Telenor posts 25pc rise in Q4 profits

Norwegian telecommunications group Telenor ASA on Wednesday reported a 25 percent jump in fourth-quarter profits, primarily thanks to growth in Asia, but said it may have to cut costs this year to strengthen its finances.
Net profit rose to 2.5 billion kroners ($425 million) in the October-December period, from just under 2 billion kroners a year earlier. Revenues slipped to 24.2 billion kroner during that time, from 25.9 billion kroners in the fourth quarter of 2008.
Telenor shares dropped 3 percent, to 75.85 kroners ($12.84), in morning trading in Oslo.
A strong quarter for Telenor in the Pakistani, Thai and Bangladeshi markets, as well as in the company's consistently strong Scandinavian operations, contributed to a sustained revenue stream.