Weak Q4 for Telmex

5 Feb 2003

Mexico’s largest telco, Telmex, has reported disappointing results for the fourth quarter of 2002, with profits falling by 17.6% to MXN5.28 billion and revenues sliding 1.6% to MXN29.4 billion. The operator has put the falls down to shrinking international traffic and the freezing of its local and long-distance rates, as well as the fluctuation of the Mexican peso against the US Dollar.