THE Danish telecommunications group Tele Danmark, which has made an interim bid for a stake in Telecom Eireann, announced bumper 1995 profits but warned that earnings were unlikely to reach the same level in 1996, when it faces competition to its core business for the first time.
The 51 per cent state owned giant is among the Copenhagen stock exchange's biggest and with a market capitalisation of around £2 billion ranks 223rd in the European top 500 firms.
The 1995 report announced net profits up an impressive 36 percent to 3.49 billion Danish crowns (£400 million) from 2.57 billion in 1994 and directors proposed raising the most traded B share's dividend to 16 crowns from last year's 12 crowns.
Tele Danmark said its strategic growth programme could cause a short term fall in earnings with the cost of investments reducing liquidity.
The Department of Transport, Energy and Communications said on Friday that Tele Danmark was one of two bidders seeking a partnership with Telecom Eireann and a stake of up to 35 per cent in the state owned telecommunications monopoly.
