QSC core profit edges up as cost cuts take effect
10/08/2015 06:30
FRANKFURT, Aug 10 (Reuters) - German Internet service
provider QSC QSCG.DE said its second-quarter earnings before
interest, tax, depreciation and amortisation (EBITDA) rose 1
percent to 10.6 million euros ($11.6 million) from a year
earlier, exceeding expectations.
QSC said on Monday the cost-cutting programme it started in
February was taking effect earlier than foreseen, with more than
4 million euros in savings achieved by the end of June and
agreements reached with 180 employees to leave the company.
QSC reiterated its full-year forecast to post revenue of
more than 400 million euros, EBITDA of more than 40 million and
a positive free cash flow.
($1 = 0.9120 euros)
(Reporting by Georgina Prodhan; Editing by Prateek Chatterjee)
((georgina.prodhan@thomsonreuters.com; +49 69 7565 1279;
Reuters Messaging:
georgina.prodhan.thomsonreuters.com@reuters.net))
Keywords: QSC RESULTS/