PRT posts USD191 million 1H profit

18 Aug 2006

Puerto Rico Telephone Company (PRT) posted a net profit of USD191 million for the first half of 2006, up from USD32.9 million in 1H ‘05, the company said in its earnings release. The improvement reflects the USD167 million sale of its telephone directory business in the first quarter which helped boost first half revenues to USD815 million from USD608 million a year before. Turnover at mobile arm Verizon Wireless Puerto Rico was up 35% year-on-year at USD176 million, while local telephony revenues rose 1.7% to USD304 million. The increase in mobile revenues reflected client growth with 68,000 net additions, bringing total subscribers to 516,000 compared to 444,000 at end-June 2005. PRT ended the half with 1,067,000 fixed lines in service, down 8% year-on-year.

Puerto Rico, Claro Puerto Rico, Puerto Rico Telephone Company (Claro)