Grameenphone posts healthy third quarter results

2 Nov 2009

Bangladeshi cellco GrameenPhone has posted a 10% increase in third quarter sales to USD239 million on the back of subscriber growth, higher average prices and increased interconnectivity revenues due to the introduction of an international gateway from the fourth quarter of 2008. The EBITDA margin improved to 57% compared to 49% for the same period of last year due to higher revenue and lower network operation and maintenance costs. The cellco, 62% owned by Norway’s Telenor, says it passed the 22 million subscriber mark on 1 October after adding approximately one million net new additions during the quarter.

Bangladesh, GrameenPhone (GP)