Partner Communications Q2 Profit Down; Sees Loss In Q3 - Quick Facts

(RTTNews) - Partner Communications Co Ltd (PTNR), an Israeli communications company, reported Wednesday that its profit for the second quarter plunged 80 percent to NIS 9 million or $2 million from last year's NIS 25 million, reflecting principally the increase in finance costs.

Adjusted EBITDA dropped 19% to NIS 236 million or $63 million, and adjusted EBITDA Margin was 23% of total revenues, compared with 27% a year ago.

Total revenues dropped 4 percent to NIS 1.044 billion or $277 million from NIS 1.09 billion last year.

Looking ahead, the company said it may record a loss in the third quarter of 2015 due principally to the one-time expense of the employee retirement plan as well as the negative effect of the continued intense competition in the telecommunications market in Israel partially compensated by the revenues from the new framework agreement with Orange.