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Business

Telekom Makes Billions

German telecommunications comany Deutsche Telekom reported on Wednesday that its profit for 2004 had trebled compared to the year before. With a net profit of €4.6 billion, the company significantly outperformed its own goal of €3.2 billion for 2004. The positive figure also came as a surprise for analysts who had forecasted a profit of just above €3.7 billion for the pink giant. Revenues for 2004 went up 3.7 percent to €57.9 billion mainly due to strong performances in the broadband and mobile phone sector. Shareholders will profit from the good results and receive a dividend payment of 62 cents per share. It is the first time in three years the company will pay dividends to its shareholders.

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