Bezeq posts NIS 168m net profit.

(From Israel Business Arena)

Byline: Guy Hadass

Finally, Bezeq (TASE:BZEQ) has had a good quarter, without any outstanding allowances or write-offs. In the first quarter of 2004, Bezeq did not have to make allowances for retiring employees or make write-offs on its purchase of Pele-Phone shares. This is a main reason why Bezeq managed to report a large net profit of NIS 168 million.

Bezeq reported NIS 2.01 billion in consolidated revenue, 1.5% more than in the corresponding quarter of last year and 2.2% more than in the preceding quarter. The company's revenue rose at a time when revenue from call-minutes on fixed-line calls fell 22%, compared with …