Telenet reports core profit falls 3% in H1

(Reuters) – Telecom firm Telenet reported core profit fell 3% in the first half of the year, citing the impact of inflation and higher energy prices.

The group reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), at 670.6 million euros ($684.1 million) for the six months ended June 30.

Net profit jumped 275% to 793.4 million euros, driven by the sale of Telenet’s telecommunications tower business.

Telenet confirmed its full-year outlook and expects a stronger second half both in terms of revenue and adjusted EBITDA.

($1 = 0.9803 euros)

(Reporting by Valentine Baldassari; Editing by Jacqueline Wong)