Bezeq reports 2Q results

15 Aug 2007

Bezeq, Israel’s largest telecoms company by revenues, has reported a rise in second quarter profit, boosted by higher revenues from wireless and broadband services and a narrowing loss from its satellite TV units. Net earnings in the three months eneded 30 June 2007 were NIS340.2 million (USD80 million), compared with NIS268.5 million a year earlier. Revenues rose to NIS3.05 billion from 3.02 billion. But Bezeq said revenue from fixed line services declined as a result of increased competition from cable companies. Its wholly owned wireless arm Pelephone posted a 5% rise in revenues to NIS1.15 billion, while its net profit rose 39% to NIS173 million. Pelephone grew its subscriber base by 8.2% to 2.51 million in the year ended 30 June, placing it behind rivals Cellcom and Partner, but it remains the country’s largest 3G provider with 480,000 customers. YES, Bezeq’s digital satellite TV unit, raised revenue by 5% while its net loss narrowed to NIS65 million in the second quarter from NIS97 million a year earlier.

Israel, Bezeq (Israel Telecommunication Corporation)