Leading mobile operator AMC reported an increase in revenue and profit during 2007, despite strong opposition from Albanian Authorities for non-competitive practices.
In 2006, revenue reached EUR 151mn or an 9.7% increase compared to 2005. Net profit reached EUR 49.9mn or a 20.3% increase compared to 2005. Performance indicators, such the profit rate were improved. Increase in profit was sustained by a lower profit tax introduced by the Albanian government last year. The Greek telecommunications group Cosmote owns 85% of AMC’s shares.
AMC has defended against the competition watchdog and telecommunication authority during last year following strong pressure from media and customers for its non-competitive practices in the telecommunication market. Competition watchdog issued a EUR 1.2mn fine for AMC and is currently still under investigation.
Telecommunications Authority has declared both AMC, and its competitor Vodafone Albania, as non-competing companies, a measure that could permit the Authority to regulate prices in this market.
Government of Albania had suffered pressure from Greek government to stop attacks against AMC. Meanwhile, Albania hopes that the Greek parliament will ratify Stabilization and Association Agreement, which Tirana has already signed with the European Union.
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