Algar Telecom posts 5.6% rise in Q1 net profits

19 May 2011

Brazilian group Algar Telecom (formerly CTBC) reported net profit of BRL25 million (USD15.5 million) in the three months ended 31 March 2011, up 5.6% on the corresponding period a year ago. Gross revenues increased 10.5% to BRL510 million, while net revenues climbed a similar percentage to BRL395 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 5.6% year-on-year to BRL96 million. Algar Telecom closed out March 2011 with 819,000 fixed lines in service, up 13.7% y-o-y, while the broadband subscriber base increased 15.3% to 285,000 from 247,000 previously.

Brazil, Algar Telecom (formerly CTBC [Fixa])