Digi Communications, a telecom service provider operating in Romania and Hungary, recorded a net profit of EUR 31.8 million in the first six months of this year, up almost fivefold over the same period last year.

Higher revenues from mobile telecom services in Romania generated the growth.

The group’s total revenues went up by 12% in the first six months compared to the same period last year, reaching EUR 454 million. The operating profit amounted to EUR 56 million during this period, up 52.6% year-on-year.

The company saw a 14.6% increase in the number of mobile phone subscriptions in Romania during this period, to 3.38 million. The average revenue per customer rose by 25% to EUR 4 per month.

The group recorded revenues of EUR 227.3 million in the second quarter of the year, up 10.7% year-on-year. The net profit reached EUR 16 million during this period, compared to losses of EUR 6.5 million between April and June 2016.

Digi Communications started trading on the Bucharest bourse in mid-May. The company is also facing corruption charges from the National Anti-Corruption Directorate (DNA). Prosecutors seized two buildings belonging to RCS&RDS, which is part of the Digi group, and indicted the group’s CEO Serghei Bulgac.

editor@romania-insider.com