SonaeCom posts first profit

30 Apr 2004

Portuguese telco SonaeCom has reported a net profit of EUR235,000 for the first quarter of 2004, up from a loss of EUR7 million at the same time in 2003. Revenues reached EUR207 million in the quarter, up from EUR196 million the previous year, with mobile services accounting for around 70% of the total. Mobile arm Optimus returned revenues of EUR45 million, up 20% year-on-year, and claimed a customer base of 2.09 million, down from 2.3 million at the end of 2003, after cutting off all its customers which it did not consider ‘economically viable’.

Portugal, Optimus (Movel)