Poor Q1 for Telefónica CTC

22 Apr 2004

Chile’s largest telco, Telefónica CTC, has announced a 52% fall in profit in the year to the end of March 2004 from CLP7.3 billion in 2003 to CLP3.5 billion (USD5.8 million), attributing the poor result to higher costs and lower sales in the local telephony sector. The company has pledged to concentrate on its mobile phone services during 2004/05 in a bid to boost sales.