Profits down at PT

16 Sep 2005

Portugal Telecom has seen first half profits drop by 32.8% to EUR259 million, with the fall blamed on higher call completion charges. The company’s operating revenues climbed from EUR2.88 billion in the first six months of last year to EUR3.02 billion this year, but EBITDA fell slightly from EUR1.166 billion to EUR1.149 billion. PT ended June with 4.44 million wireline subscribers and 5.11 million mobile customers in its home market, up 3.8% and 4.8% respectively year-on-year. Its Brazilian mobile joint venture Vivo had 28.45 million subscribers at the end of June, up from 23.51 million a year earlier.