Telesp profits dive

14 Feb 2003

Brazilian fixed line telco Telesp has reported a 37% fall in profits to BRL1.1 billion for the year ending 31 December 2002. Net operating income grew 11.5% to BRL10.1 billion, while EBITDA grew 8.3% to BRL5 billion. Having launched long-distance and international voice telephony in the second quarter of the year, by the end of 2002 it claimed to control 36% of the domestic long-distance market and 32% of the market for international calls. The company closed the year with 12.5 million lines in service and 333,000 broadband customers.