(MENAFN) KPN, the Dutch telecommunications company, posted a net profit of USD16.7 million in the first quarter of the year, marking a five-times increase year-on-year, the Peninsula reported.
The corporate significant growth and improvement in net profits came as a result of lower financial costs, KPN said in a statement. However, the firm's EBITDA decreased by 3.4 percent.
"We see challenges in our markets. However, we have a firm ambition to continue the good financial progress and maintain rigorous discipline... in our spending," KPN's chief executive said.
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