Telenor CEO Sigve Brekke (pictured) said the operator group was on target to meet the NOK1 billion ($126 million) of savings planned for 2017, as the company mulls further operational efficiency moves.

In an interview with Reuters, Brekke said cost-cutting measures had made an impact more quickly than first anticipated, with savings already visible in its Q2 earnings.

He added more could still be done to improve Telenor’s productivity and the company was in the process of assessing further ways to improve its core business.

In addition to operational changes, Telenor is continuing to review its portfolio outside of its core and target markets, as part of a business simplification strategy announced in February. Brekke hopes improvements will lead it to become a “growth company.”

Telenor is in the process of selling the remainder of its stake in Veon – formerly VimpelCom – and finalising a deal with Bharti Airtel for its operation in India.

As part of its reorganisation, the company is looking to focus its operation on four regional clusters covering Scandinavia, Central and Eastern Europe, Emerging Asia and Mature Asia.