Telefónica CTC Chile doubles half-year profits

26 Jul 2005

Former monopoly operator Telefónica CTC Chile has posted a net profit of CLP21.4 billion (USD37.6 million) for the first half of 2005, up 111% from CLP10.1 billion in the same period of 2004. Total fixed line revenues were down 1.3%, with the largest sales coming from new ADSL subscribers and an increase in interconnection charges, partly counterbalancing falling turnover in the corporate telephony market. Broadband revenues rose by 65% in the semester, and the company had 247,500 broadband subscriber lines at the end of June, representing a 42% market share.

Chile, Telefonica Moviles Chile (Movistar)