Telenor said its organic revenue grew almost 3% year-on-year in the first quarter of 2010 to 23.95 billion Norwegian krone (3.96 billion US dollars) lifted by a strong performance in Pakistan, Bangladesh and Thailand, together with mobile data revenue growth in the Nordics.
Telenor cut capital spending to 10% of sales in the quarter compared with 12% in the same quarter of 2009. It maintained its forecast that organic revenues will grow in the low single digits in 2010, but it forecast that capex will be between 13% and 14% of revenues, rather than the 14% to 16% it had anticipated, due to lower spending on its new operation in India. source: Telenor presentation
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