Telefónica O2 posts record profit for 2007

Telefónica O2, the largest domestic telecommunications company, announced on Thursday that its consolidated net profit for 2007 reached 10.4 billion crowns, or more than 613 million US dollars. This represents almost a 30 percent year-on-year increase. The company’s sales rose to 63 billion crowns last year, or more than 3.7 billion US dollars. Despite a steady drain of landline customers, the company was able to stop decrease in revenues last year due to the rising number of high-speed internet connections.