Telia sees profits slip slightly

TeliaSonera, the Nordic region’s biggest telecoms firm, posted slightly lower than expected first-quarter core profit and sales yesterday and cut its 2011 revenue growth forecast. Ebitda excluding one-offs were 8.8bn Swedish crowns (£860m) versus a forecast of 8.9bn last year. Revenues were 24.7bn crowns against a forecast of 25.4bn and Telia said it now sees net sales in local currencies and excluding acquisitions growing around three per cent this year, down from its previous forecast of four per cent.