Budget Telecom announced earnings results for the first half of 2015. For the period, the company reported a EUR 3.92 million turnover in the first half compared to EUR 5.03 million in the first half of 2014. The 22% decline is mainly attributed to the company ceasing its B2B and international B2C business.

Excluding these activities, revenue declined by 9% compared to the first half of last year. The lower sales were partially offset by a return to growth in wireline operations, up 15% on last year. Budget Telecom made a EUR 1.78 million operating loss in the first half, compared to a EUR 62,000 operating profit a year ago.

It recorded a EUR 1.76 million net loss versus a EUR 102,000 net profit in the first half of 2014.