Telefónica del Perú reports strong results

23 Oct 2006

Telefónica del Perú (TdP) has posted net profit of PEN117 million (USD32.2 million) for the third quarter of 2006, up 39.2% on the corresponding period last year. Revenue rose 9.6% to PEN1.0 billion. The results were boosted by the May 2006 merger of the telco with its former holding company Telefónica Empresas Perú. Excluding the amalgamation, revenue grew 5.2% year-on-year. Operationally speaking, TdP reported 2.54 million fixed lines installed, up 6.1% from 2.46 million in September 2005. According to BNamericas, TdP is currently renegotiating its concession contract with the government after congress approved a series of controversial measures to eliminate its use of basic fixed line charges. President Alan García did not sign the bill, but opted for renegotiation.

Peru, Movistar Peru