Telenor lowers it’s annual sales growth forecast (World)Telenor lowered its annual sales growth forecast, as it has started feel the pressure from high inflation in emerging markets such as Bangladesh, Pakistan and Thailand.
The Norwegian company now expects annual sales up around 3 percent, versus a previous estimate for 5 percent growth, but maintained its EBITDA margin estimate of over 31 percent. In the second quarter, revenues rose 3 percent from a year earlier to NOK 27.18 billion, while adjusted EBITDA increased to NOK 9.32 billion from NOK 9.25 billion, giving a margin of 34.3 percent. Net profit fell to NOK 3.54 billion from NOK 3.86 billion a year ago due to foreign exchange charges.
