Telecom slips into the red for 2H

11 Aug 2004

Telecom Argentina has reported a net loss of ARS230 million for the second half of 2004, compared with a net profit of ARS1.29 billion for the same period in 2003. Net sales from mobile telephony stood at ARS753 million, up 47% year-on-year, with ARPU rising by 13% to ARS34. Its wireless subsidiary Telecom Personal claimed a customer base of 3.1 million, up 38% on the previous year. Meanwhile fixed line revenues stood at ARS246 million for the first half, an increase of 7%, with fixed lines in service remaining static at around 3.7 million. Telecom said it invested ARS117 million in its operations during the first half of 2004.