France Telecom beats cash flow estimate

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PARIS -- France Telecom on Tuesday announced an annual organic cash flow of €7.2 billion ($9.4 billion) for 2006, higher than its stated objective of €7 billion ($9.2 billion).

The annual figures are in line with preliminary unaudited numbers publicized in February and include a gross operating margin (GOM) of €18.5 billion ($24.3 billion), a GOM rate of 35.9% -- a decrease of 1.4% on a historic and comparable basis.

Capital expenditure came to €6.7 billion ($8.8 billion), making up 13% of the group's revenue (compared with 12.5% in 2005).

In 2007, the French telecommunications giant hopes to maintain an organic cash flow of €6.8 billion, taking into account its sale of the PagesJaunes Group at the end of 2006.

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