GVT’s 1Q09 profit up 4.6%

23 Apr 2009

Brazilian telecoms group Global Village Telecom (GVT) has announced its results for the first quarter of the year, registering net profit of BRL26 million (USD11.7 million), a growth of 4.6% over the same period of 2008. ‘The first quarter growth is above expectations, showing that the business was little affected by the macroeconomic scenario,’ commented GVT president Amos Genish.

GVT ended March 2009 with 2.097 million lines in service, of which 190,000 were new lines connected in the first quarter. Of the total of new lines connected, 83,328 lines are voice telephony subscribers, 45,057 (broadband), 38,643 (data) and 23,002 are corporate VoIP lines. As part of GVT’s expansion plan, the telco is investing USD50 million to launch a 10Mbps internet service in the cities of Vitoria and Vila Velha.

Brazil, Global Village Telecom (GVT)