Sizzling HOT; net profit climbs 73% in 2008

18 Mar 2009

Israeli cableco HOT-Telecommunication Systems has revealed a 13% rise in revenue to ILS2.97 billion (USD785.7 million) for the twelve-month period ended 31 December 2008, while net profit surged 73% year-on-year to ILS92 million. The operator attributed the positive results to the cancellation of a provision for a lawsuit against the company. HOT reported that subscribers to its high speed internet services rose by 63,000 in 2008, to reach 679,000. Fixed line voice customers were up 45% y-o-y at 470,000, with the introduction of number portability reportedly a significant factor in the increase.

Israel, HOT Telecommunication Systems