TIW returns to profit

6 Nov 2003

Montreal-based Telesystem International Wireless (TIW) has reported a net income of CAD3.1 million for the three months ended 30 September 2003, compared to a loss from continuing operations of CAD9 million in the same quarter of 2002. Revenues climbed to CAD256.7 million from CAD185.2 million. MobiFon, TIW’s wireless operator in Romania, added 216,000 subscribers to its Connex service, taking the total customer base to 2.96 million. ARPU meanwhile rose from CAD14.45 in 3Q 2002 to CAD15.44 the following year. In the Czech Republic TIW operates under the Oskar brand, which added 100,650 customers in the quarter to total 1.44 million, 59% of which were pre-paid.