The incumbent Polish telco Telekomunikacja Polska (TPSA) has posted a generally disappointing set of results. Its revenues in H1 amounted to PLN8.947 billion (€2.364 billion) or 2.8% less than in the corresponding period last year. At the same time, its consolidated net income (after tax attributable to equity holders) fell by 3.4% to PLN1.103 billion and its net cash flow by 15.2% to PLN2.980 billion. The France Telecom-backed company has put its revenue decline down to “regulatory actions and intensifying competition.” Even so, its broadband customer base at the end of June stood at 1.921 million, or 35.8% more than 12 months earlier, and is on target to reach over 2.2 million by the end of the year.
