Telemar net profit up 253% in 2004

4 Mar 2005

Brazilian telco Telemar has reported a net profit of BRL293 million (USD110 million) for the fourth quarter of 2004, and BRL751 million for the full year, up from BRL213 million in 2003, and beating analyst full-year estimates of BRL732 million. Gross revenues stood at BRL5.99 billion for the fourth quarter, up 5.6% quarter-on-quarter and 14.1% over twelve months, which Telemar attributed to strong growth in mobile telephony and data transmission. Of the total revenues, the fixed line sector accounted for BRL5.26 billion, up 10.8% on Q4 2003, while its mobile unit Oi accounted for BRL658 million, up 12%. Net revenues stood at BRL4.27 billion, an increase of 16.3% in the year, while net debts were cut by 16.5% to BRL6.54 billion.

Brazil, Oi