France Telecom net profit increases 28% in 2010

France Telecom announced its fourth-quarter and full-year financial results, reporting a slight drop in fourth quarter revenues on a comparable basis to €11.73 billion (US$16.1 billion). For the full year, revenues dropped by 1.4 per cent to €45.5 billion, although net profit was up by 28 per cent at €4.9 billion.

Net profit was boosted by a €870 million increase in net income from discontinued operations linked to the establishment of Everything Everywhere, a joint venture between Orange and T-Mobile in the UK, along with a €206 million improvement in net financial income generated by the lower cost of financial debt and favourable foreign exchange rate effects. There was also a €487 million decrease in income tax; and an €88 million decrease in operating income.

The number of group customers at the end of the year were up by six per cent year-on-year on a comparable basis to 209.6 million.

"We strengthened the group’s international presence in 2010 by rolling out our brand in Tunisia, by establishing ourselves in Morocco, by acquiring an interest in Meditel and by bringing clarity to our relations with our partner in Egypt. We have already made good progress towards our objective of doubling our revenues in the emerging countries by 2015," commented France Telecom CEO Stéphane Richard.