Bezeq reports 21% rise in net profit for 2Q

21 Aug 2008

Israeli telco Bezeq has released its financial results for the three month period ended 30 June 2008, announcing a 21% rise in net profit year-on-year. Bezeq posted a net profit of ILS437 million (USD122 million) for the quarter, with revenues also rising to ILS3.086 billion from ILS3.053 billion last year; the telco attributed the growth to strong performance across its service areas. Expectations for the second half of 2008 are that fixed line revenues will drop but growth in other services areas, including DSL and satellite television, will offset the fall. Bezeq’s mobile subsidiary, Pelephone, saw a 3.1% rise in revenue y-o-y, accounting for ILS1.19 billion of total revenues, and reported its subscriber base had reached 2.636 million.

Israel, Bezeq (Israel Telecommunication Corporation)