TELE2 NET PROFITS DOWN 31.5% IN 2005.

Swedish telecommunications operator Tele2 announced a 31.5% cut in net profits for 2005 on February 17 to SKr 2.34 billion (euro 248.7 million), compared with 3.42 billion in 2004. Despite an increase in turnover for the year as a whole and for the fourth quarter, results were affected by significant spending to maintain the group's position on highly competitive markets. Earnings before interest and taxes in 2005 fell by 18.7% from Skr4.31 to 3.51 million.

Tele2 has also seen pre-tax profits fall by 25.67% on the previous year toSKr 3.12 billion, with profits per share down fromSKr 7.74 to 5.30. Fourth-quarter...