ETB posts 3Q profit increase

Colombian state-owned telco Empresa de Telecomunicaciones de Santa Fé de Bogotá (ETB) has reported profits of COP87.5 billion (USD37.9 million) for the nine months ending 30 September, up 15.1% from the same period of 2005. Revenues reached COP1.12 trillion during the nine months, a 7.9% increase year-on-year, meaning that it has already met its full year revenue estimates of COP1.04 trillion. Local telephony generated COP622 billion, up 0.5% from the same of period 2005, while long distance earnings dipped 5.9% year-on-year to COP123 billion. Growth came predominantly from its internet and data division, which recorded sales of COP154 billion, a 39.8% increase year-on-year.