Tax benefit boosts Sonaecom returns

3 Mar 2008

The Portuguese alternative operator Sonaecom has reported a net profit of EUR36.8 million (USD55.9 million) in 2007, up from a net loss of EUR9.7 million in 2006. Earnings were boosted by a EUR34.9 million tax benefit in the fourth quarter results. Revenues for the full year were up 8.6% at EUR892.7 million, while EBITDA rose 3.3% to EUR162 million. Cellular subsidiary Optimus ended 2007 with 2.28 million active subscribers, up from 2.06 million at end-2006, while the fixed line division claimed 815,600 customers, up from 380,700 twelve months earlier.

Portugal, Optimus (Clix), Optimus (Movel)