Brazilian fixed line operator Telefónica Brazil (formerly Telesp) posted net profits of BRL2.82 billion (USD1.35 billion) in 2006, up 10.8% year-on-year from BRL2.54 billion in 2005. In a statement, Telesp said growth was driven by a rise in demand for broadband and the increased adoption of alternative fixed line service plans. Full-year net revenue reached BRL14.6 billion, up 1.7% year-on-year, and EBITDA rose 5.4% from BRL6.55 billion to BRL6.91 billion. Total investment in 2006 was BRL1.7 billion. Telesp closed out 2006 with 12.1 million fixed lines in service, down 1.9% on 2005, while the number of broadband subscribers increased by 33.1% from 1.2 million to 1.6 million.