Embratel satellite subsidiary more than doubles profits

18 Feb 2004

Satellite operator Star One, the exclusive carrier for Brazil’s Embratel, has posted a 123% hike in net profit for 2003 to BRL183 million (USD62.9 million), on the back of more customers using its expanded network; revenues were up 9% year-on-year to BRL378 million. Embratel has an 80% stake in Star One, which was launched in 2000.