Telefonica de Pereira posts strong profits growth

Telefonica de Pereira has reported net profits of COP29.2 billion (USD15.4 million) for 2007, up 17% year-on-year, on the back of strong subscriber growth. Customer numbers at the telco’s broadband unit increased 91% to 29,102 at the end of the year, while basic telephony users grew 4% to 166,690. EPM acquired the telco last year, along with Orbitel, Emtelco, Edatel and EPM Bogota, as it seeks to compete against rival Telefonica.