Profits for Spanish telecoms firm Telefonica rise to more than €3.3 billion

MADRID-BASED telecommunications company Telefonica made more than €3.3 billion in net profit in 2018, an increase of 6.3 per cent on the previous year.

News of the increase sent company shares rising in value by 0.8 per cent. The company has confirmed that dividends of 20 cents per share will be paid in June and December 2019.

This year’s remuneration policy is set to remain at 40 cents per share.

Telefonica President Jose Maria Alvarez-Pallete said the company’s profit making was “solid and consistent”.