Copaco records net profit of USD3.1m in 2014

7 Jan 2015

Paraguay’s state-run telecoms operator Copaco recorded a net profit of PYG15 billion (USD3.1 million) for the twelve months ended 31 December 2014, Ultima Hora reports, citing company president Rogelio Benitez. After several years characterised by its poor financial situation, Copaco posted a modest net profit of PYG3 billion in 2013, and the upturn in fortunes prompted Benitez to tell the newspaper: ‘I do not understand why there is so much emphasis on [Copaco] as a loss-making company.’ According to TeleGeography’s GlobalComms Database, the state-backed PTO generated a net loss of PYG33 billion in 2012, albeit reduced from a PYG71 billion deficit in 2011.

Paraguay, Copaco