Cellcom Israel Posts 15% Rise in Q2 Profits

Israeli mobile network operator, Cellcom has reported a 15% rise in second quarter net profits to NIS 277 million (US$71 million), while revenues were up slightly by 0.7% to NIS 1,420 million (US$362 million).

The subscriber base increased approx. 20,000 during the quarter, mostly post-paid subscribers; reaching approx. 3.228 million at the end of June 2009. Revenues from content and value added services (including SMS) increased 30.6%, represent 14.7% of services revenues.

3G subscribers reached approx. 877,000 at the end of June 2009, net addition of approx. 44,000 in the second quarter 2009.

Commenting on the results, Amos Shapira, Chief Executive Officer said, "These results are especially noteworthy as we are operating in a challenging competitive environment, highly regulated and turbulent macro-economic environment. This macro-economic environment mainly affected our roaming revenues, as inbound and outbound tourism continued to be impacted by the global economic slowdown."

Posted to the site on 17th August 2009