The Latvian incumbent Tet, formerly known as Lattelecom, has posted a turnover of €105 million for the first six months of this year.
This, according to the company, was 6% more than in the corresponding period last year.
At the same time, investment in the development of the Helio iTV and Shortcut platforms resulted in Tet’s TV turnover growing by 3%.
Other business areas, including new lines such as electricity (27%) and advertising services (9%), also saw increases in turnover.
Tet paid €25.8 million to the state in the form of taxes and the 2018 profit was distributed to shareholders (€32.5 million, of which €16.6 million was to the Latvian state).
Commenting on Tet’s performance in the first six months of this year, its chairman Juris Gulbis said: “We have done a lot in the second quarter of the year – on April 1, we changed our brand and name, working on service upgrades and continuing digital transformation to provide customers with the most convenient, up-to-date and easy-to-use services. For hockey fans we provided the opportunity to watch the world championship games in HD quality, participated in the Tet Riga Marathon and the Urban Culture and eSports Festival HyperTown. We have invested in the development of Helio iTV and Shortcut to provide our customers with the best viewing experience and the best, most diverse content, and together with Ukrainian television we are creating the first co-production series in Latvia – Markuss”.
