Israeli cableco HOT Telecommunication Systems has unveiled its financial results for the 2011 financial year, posting a 321% year-on-year rise in net profit, Globes Online reports. The operator recorded a net income of ILS341 million (USD91 million) in the year ending 31 December 2011, up from ILS106 million in the previous twelve-month period, with the improvement attributed in the main to lower provisions for copyrights. Turnover in the year stood at ILS3.37 billion, up by 3.7% when compared with the ILS3.25 billion generated in 2010, with revenues from telecoms services (both fixed line voice and broadband) rising by 4.6% to account for ILS1.08 billion of the total.
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OVETEL HOT more than triples net income in 2011
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