By Ben King, 25 July 2001 16:53
NEWS KPNQwest, ISP and hosting joint venture between Dutch telco KPN and US carrier Qwest, made a surprise core profit for the second quarter of 2001. While it's a profit before interest, tax, and debt amortisation and not actually a net profit, the company's E15.1m (£9.3m) core profit beat analyst's expectations of a E13.1m (£8m) loss. The company lost E20.9m (£12.8) on core earnings in the last quarter. The company put these unexpectedly strong results down to the demise of several of their rivals, including PSINet and Viatel. One large undisclosed deal also boosted the company's performance, reporters were told in a conference call. Jack McMaster, chief executive of KPNQwest, also stuck to previous predictions that the company expects to post a small core loss in the next quarter, before posting its first core profit in the last quarter of the year.
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