Telekom Austria, the country's leading telecoms operator by subscribers, has posted on Wednesday a slump of 14.5 per cent in profits for the second quarter ended June
30.

Telekom Austria said its net income for the first half of 2009 stood at 167.6 million euros, down 25.8 per cent as compared with a net income of 226 million euros in 2008.

Operating income for the quarter was recorded at 350.3 million euros, down 6.9 per cent.

The company attributed the fall to a decline in the fixed line sales and wholesale revenue and the crisis in the Eastern Europe.

The sale of company's fixed line subsidiaries in Poland, Czech Republic and Slovakia also played a vital role in bringing down its revenue.

Total revenues were reported at 2.39 billion euros, down 5.8 per cent.

Now, Telekom Austria expects slightly weaker revenues for the whole 2009 as compared with its earlier forecast of 5.1 billion euros.

In the recent trading, shares of the company closed at $29.95, down 1.12 per cent.