HOT’s 2010 net income up 34.7%

11 Mar 2011

Israeli cableco HOT Telecommunication Systems has revealed a 34.7% year-on-year increase in net profit for the twelve months to 31 December 2010, according to Globes Online. The telco saw net income climb to ILS106 million (USD29.66 million), up from ILS85 million a year earlier, on the back of revenues that increased 4% against the previous year to ILS3.13 billion. Cable television services remained the company’s largest revenue generator, while turnover from fixed line voice and broadband internet services was ILS1.03 billion. In operational terms HOT’s fixed voice subscriber base increased from 521,000 to 610,000, while broadband customer numbers rose from 701,000 to 752,000.

Commenting on the results HOT CEO Herzl Ozer said: ‘The 2010 business results were very good, reflecting the strong and steady improvement in performance during the year. We intend to continue to focus on strategic areas, including improving service, development and upgrading of infrastructures, and promoting triple-play services.’

Israel, HOT Telecommunication Systems