Greece's largest telecoms company OTE said Wednesday its net profit increased 30 percent in the third quarter due to a strong performance in its mobile phone units.

Net profit reached euro201.3 million ($260.4 million) in the July-September period, compared to euro155.5 million in the third quarter of 2007, a company statement said.

Revenues rose 0.7 percent to euro1.64 billion from euro1.63 billion in the third quarter of 2007.

OTE chairman and CEO Panagis Vourloumis said strong results in the mobile phone sector more than offset a "mediocre" performance in fixed-line revenues in Greece.

The statement said OTE expects 2009 profits to "at least match" this year's, despite the global economic crisis.

In May, the Greek government and Deutsche Telekom AG struck a deal on sharing OTE ownership and management control.

Under the agreement, which Greece's parliament ratified in June, the government and Deutsche Telekom will each control 25 percent plus one share of OTE.

Source: AP News