ArmenTel revenues fall 6.5% in 2Q10

6 Sep 2010

Armenian fixed and mobile operator ArmenTel booked net operating revenues of AMD17 billion (USD46.5 million) in the three months ended 30 June 2010, down 6.5% year-on-year, adversely impacted by an 8.3% decline in revenues at its mobile arm. Turnover for the cellular division slumped to AMD6.7 billion while sales derived from fixed line operations came to AMD10.3 billion, the company’s press service told online news journal At the end of June this year ArmenTel counted 49,700 broadband internet subscribers, up 158.9% year-on-year, whilst the mobile base expanded 16.7% to 567,000. In addition, 13.3% growth was recorded in monthly mobile minutes of use (MoU) to 270.1 minutes.

In a separate development, ArmenTel says it is extending the terms and conditions concerning customers connecting to its Hi-Line broadband internet products. Going forward, people signing up will be provided with an ADSL modem for free, while the telco will also waive its connection fee and provide the first month’s rental for free, for anyone signing up before 31 December 2010. ArmenTel’s Hi-Line service is based on ADSL technology, which was launched in 2007, and which is currently available in 35 cities throughout Armenia.

Armenia, Team Telecom Armenia (formerly Beeline)