CTC boosts 1H03 profit on the back of strong wireless and broadband growth

29 Jul 2003

Dominant Chilean telco Telefónica CTC has reported a leap in profit for the first six months of 2003, buoyed by a particularly impressive first quarter. Net profit for the period was CLP8.22 billion (USD11.7 million), up from CLP1.4 billion in the first half of 2002. Losses in its fixed line customer base – lines in service fell 7% year-on-year to 2.57 million – were counteracted by a 14% growth in its mobile customer base (to 1.9 million) and a whopping 178% leap in ADSL lines in service, up to 84,000.