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Dutch telecom KPN 2Q earnings fall

AMSTERDAM, Netherlands - The Dutch telecommunications company Royal KPN NV said Wednesday its profit fell 12 percent in the second quarter, due to restructuring charges, higher financing costs and taxes. However, analysts said the company's underlying performance was better than expected and shares rose 5.1 percent to 10.65 euros ($16.74) in Amsterdam. The company said net profit fell to 353 million euros ($555 million), down from 401 million euros a year ago, while sales were up 22 percent to 3.66 billion euros ($5.75 billion). Notably, the company added 780,000 customers at its German mobile telephone arm E-Plus in the quarter, and it lost fewer fixed line customers in the Netherlands than in previous quarters. The sales increase was largely due to KPN's 766 million euro acquisition of Getronics, a major IT services... [read full story]                    

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