Cellcom Q2 profit jumps 48%

14 Aug 2007

Cellcom, Israel’s largest mobile phone operator by subscribers, has announced that its its second quarter net income rose by 48%, helped by an increase in subscribers and a reduction of costs. The company posted a net profit of NIS212 million (USD50 million) in the three months ended 30 June 2007, compared to NIS143 million in the same period of 2006. Revenue for the quarter rose to NIS1.46 billion from NIS1.38 billion a year ago. Cellcom said the number of subscribers grew 10.5% to 2.96 million at the end of the second quarter, of which 3G subscribers made up 212,000. The company said it added a net 32,000 new subscribers in the quarter to give it a 34 percent market share, although the number of 3G subscribers still lags its main rivals, Partner Communications and Pelephone.

Partner, Israel’s second largest mobile operator, said its subscriber base had grown to 2.73 million at the end of the second quarter for a 32 percent market share. It has some 400,000 3G customers, while Pelephone, the wireless arm of Bezeq, had an estimated 525,000 out of a total of 2.51 million.

Israel, Cellcom