CTI Móvil Revenues Up 50.7% in 3Q06

Mobile operator CTI Móvil, a unit of Mexico's América Móvil, grouping operations in Argentina, Paraguay and Uruguay, saw its third quarter 2006 revenues reach 1.2bn pesos (US$388mn), up 50.7% compared to the same period in 2005, AMX said in an statement.

For the first nine months of 2006, revenues totaled 3.2bn pesos, up 57.3% compared to the same period in 2005.

In the quarter, the company's combined subscriber base in Argentina, Paraguay and Uruguay grew 66.8% to 9.7 million compared to 3Q05, after adding over 1 million new clients in the period.

"We are growing more rapidly in Argentina than last year," América Móvil CFO Carlos García Moreno said in a conference call to discuss the results.

The executive said that in terms of net additions in the quarter, Argentina grew nearly 50% compared to the same period last year.

Argentina's subscriber base increased 11.8% sequentially with 3Q05, making it the strongest quarter in the year in terms of net additions. Paraguay and Uruguay have shown the most dynamic growth throughout the region increasing their subscriber bases 16.4% and 24.4% respectively.

BNAmericas.com"

Posted to the site on 30th October 2006