Lattelecom aims for 40% broadband growth

20 Mar 2008

Lattelecom has announced that its main goal for 2008 is to increase the number of broadband connections by 40%. ‘Increasing the number of permanent internet connections is a fundamental aspect of Lattelecom’s development, given that this is the area in which revenue is increasing most rapidly. It is also a platform on the basis of which we will be able to offer new services in the future – IP telephony, a wider range of TV services and other innovative services,’ said the company’s chairman Gundars Strautmanis.

In a separate but related announcement Lattelecom announced the approval of its 2007 financial results, which showed a 7% increase in revenues to LVL153.5 million (USD346.4 million). Profit, however, slipped by 2.4% to LVL38.1 million.

Latvia, Tet (Lattelecom Group)