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April 28, 2015, 2:27 a.m. EDT

Telenet lifts revenue but profit slips

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By Tom Fairless

BRUSSELS--Belgian telecom group Telenet Group Holding NV (TNET.BT) said Tuesday that its revenue rose 6% year-on-year in the first quarter, to 443.4 million euros ($481.69 million), driven by more subscriptions for its mobile-phone and triple-play services.

But net profit fell 12% from the same period in the previous year, to EUR34.1 million.

Telenet last week announced it would buy BASE Company, Belgium's third-largest mobile operator, for EUR1.33 billion. The purchase will help ensure "we are well positioned to effectively compete for the future growth opportunity of mobile data," Telenet's Chief Executive Officer John Porter said.

-Write to Tom Fairless at tom.fairless@wsj.com

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