Hondutel reports monthly profit for first time since December 2010

17 Jul 2014

State-owned telco Empresa Hondurena de Telecomunicaciones (Hondutel) has reported a net profit of HNL13.6 million (USD648,961) for the month of June 2014, after 41 consecutive months of losses, domestic newspaper El Heraldo reports. Hondutel attributed the positive results to a series of measures implemented by manager Jesus Mejia to improve operational efficiency. The company’s voluntary retirement programme, which aims to ultimately cut spending, has resulted in a 15.3% reduction in the number of employees, down to 3,233; the initiative curbed operating costs by HNL11.8 million in the six months to end-June 2014. Meanwhile, operating expenses fell to HNL112.3 million over the same period, down from HNL120.3 million in January 2014.

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