Lithuania’s Teo grows TV base

Lithuanian telco Teo’s television customer base increased by about a third in the year to June to 114,100, according to the company’s second-quarter figures.

Teo’s broadband customer base increased by 7.6% to 326,900, while the number of phone lines connected stood at 703,100.

Teo’s share of the digital TV market at the end of the first quarter was 39.9%, according to the Lithuanian communications regulator, while its share of the internet market was 39.8%.

Teo said it had allocated LTL51m (€14.6m) for investment in the first six months of the year, mostly to develop a fibre-optic access network. The company posted revenues of LTL387m for the first half, down from LTL408.9m, and net profits of LTL83.6m, down from LTL91.9m.