Profits jump at PT

7 Aug 2007

The Portugal Telecom (PT) group has reported a 32.7% increase in second quarter net profit to EUR252.5 million (USD348.7 million) on the back of an improved performance at its Brazilian mobile subsidiary Vivo. Revenue for the three months to the end of June rose from EUR1.38 billion in 2006 to EUR1.5 billion this year, while EBITDA was up 27.2% at EUR576 million. Vivo saw a 12.4% increase in revenues to EUR593.8 million, helping to offset a poor performance at PT’s domestic wireline business, where sales were down 5.7% to EUR493.6 million. Sales at the broadband internet unit rose 12.5% to EUR715 million, while the domestic mobile operator TMN saw 1.1% sales growth, bringing in EUR364.8 million over the quarter.

The telco had 4.3 million main lines in service in Portugal at the end of June, down 2% from a year earlier. The number of ADSL subscriptions was up 12.5% over the same period to 715,000. TMN had 5.81 million customers at end-June, up from 5.36 million twelve months before, although monthly ARPU fell 6% EUR19.7. In Brazil, Vivo now claims 30.24 million subscribers, up from 28.53 million in June 2006.

Brazil, Portugal,PT Portugal (MEO), Telecomunicacoes Moveis Nacionais (TMN),

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