By Patrick Costello

Orange (ORA.FR) said Thursday that its second-quarter net profit rose 32% on year due to improvements in income resulting from the disposal in June of its residual interest in BT Group PLC (BT.A.LN).

The French telecommunications company posted a net profit of 1.04 billion euros ($1.16 billion), compared with EUR789 million a year ago. Improvements in the group's financial income included lower impairment costs from its stake in BT, it said.

Revenue rose 0.5% on year to EUR10.39 billion, while adjusted earnings before, interest, taxes, depreciation and amortization after leasing, or Ebitdaal, increased 0.9% to EUR3.38 billion.

The company said it began using Ebitdaal as a financial indicator in January to account for the adoption of the IFRS 16 accounting standard.

Operating cash flow fell 1.7% to EUR1.5 billion, it said.

Orange said its results were boosted by a strong performance in its Middle East and Africa segment, where revenue increased 5.8%, while revenue in its home market of France was up 0.4%.

The company confirmed its full-year targets, including slightly lower Ebitdaal growth on a comparable basis compared with 2018 and higher operating cash flow.

Write to Patrick Costello at patrick.costello@dowjones.com.

(END) Dow Jones Newswires

July 25, 2019 02:18 ET (06:18 GMT)

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