TELENOR RESULTS FOR 2005 SHOW SHARP IMPROVEMENT.

Norwegian telecommunications operator Telenor reported a sharp improvement in profits for 2005 on February 16. 2005 was marked by a significant increase in subscriber numbers despite a somewhat mixed final quarter. Telenor recorded a 14% increase in net profits last year to NKr 6.95 billion (euro 856.6 million). Over the final quarter of 2005, the group returned a profit of NKr 1 billion, compared with a loss of 430 million the previous year under pressure from financial costs and the depreciation of assets.

The figures were welcomed by the Oslo stock exchange, shares rising 1.1% on the announcement to NKr 69 on the market is down 0.4%. Owing to financial elements, quarterly results fall short of the forecasts of analysts questioned by the TDN Finans agency, though operational performance is better than expected.

The operator has returned a pre-tax profit of NKr 2.67 billion, compared with a forecast of 3.18 billion, with earnings before interests, taxes, depreciation and amortisation of NKr 6.72 billion, compared with a forecast of 6.47 million. CEO Jon Fredrik Baksaas...