Telmex posts strong second quarter results

27 Jul 2005

Teléfonos de México (Telmex), the former wireline monopoly operator in Mexico controlled by billionaire Carlos Slim Helú, has reported a year-on-year 42% rise in net income to MXN6.5 billion (USD575 million) for the second quarter of 2005, while sales grew to MXN40.2 billion. Strong results from fixed line subsidiaries in Argentina, Brazil, Chile, Colombia and Peru – all acquired between February and August 2004 – were sufficient to off-set the continuing decline in sales in Telmex’s home market. Capital expenditure for the first half of 2005 stood at MXN9 billion, of which 65% was invested domestically with a particular focus on developing data and internet services, 30% went to Embratel in Brazil, and the remainder was shared amongst Telmex’s remaining operations to facilitate increased network infrastructure rollout in each country.

Mexico, Telefonos de Mexico (Telmex)