Entel’s Q1 net profit rises 22%

Entel reports it made a net profit of CLP29.28 billion (USD54 million) in the first quarter ended 31 March 2007, a 22% increase year-on-year thanks to strong growth from its wireless arm Entel PCS. First-quarter sales were CLP205.46 billion, virtually unchanged on the same period of 2006, while EBITDA rose 13% to CLP82.96 billion. Entel has said it will invest some USD300 million in 2007, two thirds of which will go towards strengthening its mobile phone business, which accounts for about 70% of group sales. At the end of March 2007 Entel PCS claimed 5.13 million wireless customers, giving it a market share of around 41%.