Lower interconnect fees hit PT sales

9 Nov 2006

Portugal Telecom has posted a 1.3% drop in consolidated revenues for the three months to the end of September, from EUR1.64 billion to EUR1.62 billion, although sales for the first nine months of the year were up slightly on last year’s level to EUR4.71 billion. The quarterly fall was attributed to the negative impact of reduced interconnect rates. Net income for the nine-month period increased by 46.2% to EUR527 million, while third quarter profits were up 62.8% to EUR125.4 million. Income was boosted by a restructuring of tax payments and reduced redundancy payments. The PT Group claimed 4.41 million wireline customers, 34.22 million cellular subscribers and just over one million broadband internet users at the end of September. Its domestic mobile subsidiary TMN had 5.49 million subscribers while in Brazil its Vivo joint venture claimed 28.73 million.

Portugal, Telecomunicacoes Moveis Nacionais (TMN)