Mobile-8's Q1 net profit rings up 14% increase

The Jakarta Post, Jakarta

Mobile phone operator PT Mobile-8 has announced an increase of 14 percent in its unaudited net profit to Rp 16.9 billion (US$1.8 million) in the first quarter on the back of an increased subscriber base.

The number of Mobile-8 subscribers surged by 101.1 percent to 2.02 million in the January-March period from 1 million in the same period last year, a media statement from the company said Wednesday.

The sharp increase in the number of subscribers resulted in a rise in gross revenue of 78.9 percent to Rp 229 billion from Rp 128 billion in the same period last year.

The statement added that prepaid customers accounted for 91 percent of the revenue.

Meanwhile, the company's net revenue increased by 93.3 percent to Rp 183.9 billion

"We remain on track for our 2007 financial targets and our plan to expand network coverage to outside Java, including to Sumatra, Kalimantan and Sulawesi, starting June," Mobile-8 president director Hidajat Tjandradjaja said.

Besides its domestic operation, the code division multiple access (CDMA)-based cellular operator has forged links with 12 international operators, including Telstra of Australia and DTAC of Thailand, for the provision of international texting services.

Operating under the trade name Fren, the company plans to increase its subscriber base to around 4 million customers this year and 6.9 million customers by the end of 2008.
_________________________ Indonesian Business and Investment News Aggregator