Philippines Liberty Telecom reports closing 9-month losses [Bikya Masr (Egypt)]
(Bikya Masr (Egypt) Via Acquire Media NewsEdge) Philippines Liberty Telecom reports losses improving.
KUALA LUMPUR: Philippines telecom company Liberty Telecoms Holdings said that it had narrowed its net loss in the 9-month period that ended September 30.
Net loss reportedly stood at PHP 1.43 billion versus PHP 1.48 billion in the same period the year before.
The report from the operator was positive news for the sector, which has been reeling from losses and a failure to generate new and upgraded services to entice customers.
Analysts told Bikyamasr.com that the announcement should help the country begin to put back together their efforts to roll-out new infrastructure and promotions that should enable the operator to return to profitable margins as early as next year.
Revenues from its Wimax unit Wi-tribe Telecoms grew 14 percent to PHP 444.27 million from PHP 389.45 million a year earlier as the subscribers base grew.
“The net losses are expected as the Wimax unit is still in the start-up stage,” Liberty said.
Philippines has seen the overall telecom market grown tremendously in recent years, but most believe the country needs to improve its network offerings in order to get into the black.
(c) 2012 Bikya Masr Provided by Syndigate.info an Albawaba.com company
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