Afone announced consolidated earnings results for the first half of 2014. For the period, the company booked a net profit of EUR 1.1 million (USD 1.4 million) compared with EUR 1.8 million a year earlier. Operating profit fell to EUR 1.5 million from EUR 2.4 million.

Consolidated turnover totaled EUR 24.6 million versus EUR 25.9 million generated over January-June 2013. The decline in the group's financial results is primarily attributable to the telecoms activities which continue to suffer from strong competition in the sector.