Net profit grows by 95% for Telesp

28 Jul 2004

Sao Paulo-based fixed line carrier Telesp has reported net profits of BRL936 million (USD305 million) for the first half of 2004, an increase of 95% from BRL480 million in 2003. Net revenues stood at BRL6.44 billion at the same date up 18% in six months, with EBITDA growing 24.5% to BRL2.84 billion. The telco has attributed the results to growth of broadband and long distance services.