ICE Mobile Operations Post US$146mn Profit in 2005

The mobile telephony operations of Costa Rican state telecommunications monopoly ICE ended 2005 with a net profit of US$146mn, up 143% compared to 2004, local daily El Financiero quoted anonymous ICE sources as saying.

Revenues were up 32% to US$268mn compared to US$203mn in 2004, while operating costs were US$123mn.

The fixed line telephony business resulted in a loss of US$38.8mn for ICE. Costa Rica has a population of 4.2 million habitants and 1.2 million cell phone users.

The telephony market is due to be opened up as part of the Central American and Dominican Republic free trade agreement with the US. Costa Rica is the only signatory whose congress has still not ratified the agreement.

BNamericas.com"

Posted to the site on 28th March 2006