CTC reports profit of USD17.4 million for 2003

29 Jan 2004

Chile’s leading fixed line telco, Telefónica CTC Chile, has reported 2003 profits of ARP10.1 billion (USD17.4 million), a significant improvement on the loss of ARP17.9 billion it recorded for 2002. Revenues for the year stood at ARP813 billion, down 6.5% on 2002, a fall which the telco attributed to the sale of its stake in Chilean systems integrator Sonda at the end of 2002. Mobile subsidiary Telefónica Móvil boasted a 13.7% increase in sales, while corporate data services revenues increased by 13.1% in the year. At the end of 2003 CTC had 2.42 million fixed lines in service, 2.27 million mobile subscribers and 125,000 ADSL connections.