TEO LT Profit Advances 2% in First Half on Internet, Digital TV

AB TEO LT (TEO1L), Lithuania’s largest communication company, said profit rose 2 percent in the first half from a year earlier on rising revenue from internet services and digital television.

Net income increased to 78.28 million litai ($22.7 million), compared with 76.65 million litai in the first six months through June of 2011, the Vilnius-based company said in a statement to the stock exchange today. Sales rose 3 percent to 380.7 million litai.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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