Starcomms FY11 pre-tax loss widens

3 May 2012

Nigerian CDMA operator Starcomms has said its pre-tax loss widened to NGN15.61 billion (USD99 million) in the year ended 31 December 2011, from NGN5.16 billion in 2010, news agency Reuters reports, citing a company statement made to the Nigerian Stock Exchange. Meanwhile, the fixed-wireless company’s revenue for full year 2011 fell to NGN20.10 billion from NGN29.03 billion the previous year. According to the latest statistics from the Nigerian Communications Commission (NCC), Starcomms ended 2011 with 980,109 CDMA mobile subscribers (down from 1.24 million twelve months earlier), as well as 367,367 fixed-wireless customers, compared to 531,392 at the end of 2010.

Nigeria, Capcom Telecoms (formerly Starcomms)