Telecom Argentina has announced it generated consolidated net revenues of ARS18.525 billion (USD4.26 billion) in full year 2011, an increase of 26% year-on-year, with growth largely driven by a 31% rise in mobile sales to ARS13.184 billion and a 28% increase in revenue from the company’s internet business to ARS1.757 billion. Fourth-quarter turnover grew 23% from ARS4.195 billion in 2010 to ARS5.139 billion in the same period twelve months later, helping to boost operating profit and net income for the three-month period by 11% and 18% to ARS976 million and ARS604 million, respectively. Telecom Argentina said that operating profit in 2011 totalled ARS4.04 billion, up 26% year-on-year, while full year net income jumped 33% to ARS2.42 billion from ARS1.82 billion in 2010.
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OVETEL Telecom Argentina posts 33% rise in FY11 net profit
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