OREANDA-NEWS. July 20, 2015. The unaudited financial results of Lattelecom, Latvia’s largest information and communication technology company, show an increase of 8% in the group’s profits, reaching 16.5 million euros, which is 1.2 million more than during the same period of 2014.

Compared to the same period last year, the revenue from TV services grew by 11%, while the revenue from broadband internet services increased by 2%. The six-month revenue from IT and external services for corporate clients shows a 25% increase, compared to the same period in 2014.

"In the first half of this year, Lattelecom was very active on the international market: we offer external data centre services as well as software implementation and support to clients in the Nordic countries, in Ukraine and other Eastern Partnership countries, Russia and other markets. We also offer our cloud communications services to clients outside Latvia: modern technologies let us provide services across borders," the Lattelecom Chairman of the Board, Juris Gulbis, emphasised.

Latvia holds the second place in Europe in the proportion of broadband internet users (i.e. with speeds of over 100 Mbit/s), reaching 40% and being ahead of Lithuania and Estonia. This achievement owes much Lattelecom’s extensive contribution in the expansion of the optical network in the country.

"Having a fast and stable internet connection that is available to a broad client base has a significant role in creating a unified European digital market. It is important that, as we implement the reforms planned on the level of the European Union, investments in network expansion and innovation are supported," J. Gulbis continued.

Lattelecom Group provides electronic communications solutions to households, small, medium and large companies, state and municipal institutions.