CTC Posts Net Profit of US$47.9mn in 2005

Chile's largest telco Telefónica CTC Chile recorded a net profit of 25.2bn pesos (US$47.9mn) in 2005, the company said in a statement.

In 2004 the company posted a net profit of 323bn pesos, boosted mainly by the sale of CTC's mobile unit Telefónica Móvil (now Movistar) to Spanish parent company Telefónica Móviles. That deal represented 314bn pesos for CTC.

Total revenues for 2005 fell 2.8% to 597bn pesos from 581bn pesos, not including the former mobile operation.

The company's Ebitda reached 284bn pesos, or a margin of 48.9%.

Since last year, Telefónica CTC Chile has made it clear that its new focus will be broadband and other business areas, as a way to compensate for the almost flat growth in basic telephony services.

"We have set our focus on businesses with a good technological future such as interactive TV and increasing the penetration of broadband, as a way to strengthen innovation in all our actions, increase productivity and progressively improve the quality of our products and services," CTC general manager Jos

Posted to the site on 26th January 2006