Mexican duo report third-quarter financials

27 Oct 2010

Mexican alternative operators Axtel and Megacable have both unveiled their respective financial results for the three months ended 30 September 2010.

Axtel, which is second only to incumbent Telefonos de Mexico in the fixed line voice sector, improved on results from the same period a year earlier as financing costs fell, with the telco posting a net loss of MXN18.7 million (USD1.5 million) for the three-month period compared to an MXN57.3 million loss a year earlier. Financing costs for the period fell to MXN135 million from MXN270 million in 3Q 2009, while turnover stood at MXN2.7 billion, down 1.2% year-on-year.

Megacable meanwhile reported an 11% decline in net profit for the three-month period as its operating costs rose. For 3Q 2010 the cableco posted a net profit of MXN392 million, down from MXN442 million in the corresponding period twelve months previously on the back of a 27% y-o-y increase in operating and general expenses. Revenues for the period rose by 11% to MXN1.89 billion, helped by growth in subscriber numbers for its VoIP and high speed broadband services.

Mexico, Axtel, Megacable