Millicom sees 78% increase in net profit in Q1

Luxembourg-based mobile holding company Millicom Cellular International (Nasdaq: MICC), which operates in the Latin American region under the Tigo brand, continued to see strong growth in its traditional stronghold of Central America, with Honduras outstripping other countries in terms of subscriber growth, growing 88% and adding 515,000 subscribers.

Wednesday, April 23, 2008

Millicom posted a 78% increase in net profit to US$158mn in the first quarter of 2008 compared to US$89mn in 1Q07, the company said in a statement.
With mobile penetration approaching 55%, Honduras is starting to catch up on Guatemala and El Salvador with penetration rates of 66% and 68%, respectively.

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