Partner Communications Posts Drop In Q4 Profit

Israel's Partner Communications

reported a 55% fall in its fourth-quarter profit. Partner's quarterly net profit declined to 46 million shekels ($13 million), versus a year-ago profit of 102 million. However, analysts were expecting a profit of 49.6 million shekels. Its revenue tumbled 10% to 1.127 billion shekels. The company's subscriber base fell 1% to 2.956 million in 2013. Partner shares closed at $8.72 on Friday.