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.

More on this topic

Millicom to Buy Out Celtel in Honduras

July 2010

Millicom International Cellular S.A today announced that Millicom and its local partner in Honduras have reached an agreement that gives Millicom full control of Celtel, its Honduran subsidiary.

Under the revised shareholders' agreement, the local partner has granted Millicom an unconditional call option for his 33% stake for the next five years.

El Salvador: Amnet Operates Under Tigo Brand

May 2009

El Salvador is the first country in Central America where there was a complete merger.

Tigo’s parent company, Millicom International Cellular S. A., invested $14 million to expand Amnet's network in the country.

La prensagrafica.com reported statements by Ignacio Baratelli, CEO of Tigo El Salvador: "Amnet is now Tigo.

Millicom Buys 55% of Navega for $60 million

March 2009

With this transaction, Millicom International Cellular controls 100% of Navega.

Navega was created in 2000 by Comcel which is part of Millicom, the Spanish company Iberdrola, EDP in Portugal and Teco Energy in the US, and it provides data transport services in Guatemala, El Salvador, Honduras and Nicaragua.

Costa Rica attracts Millicom and Digicel

September 2008

At the end of 2013 mobile phone services in Costa Rica will have reached at least $1,1 billion, according to calculations by market analyst, Signal Consulting.

The forecast is based on the potential created by the opening of the sector after the creation of the Telecommunications Superintendence (SUTEL), which will paved the way for the entrance of new competitors in the local market.

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MJG Technologies

We are a Video Security Product development & supply company.
Operates in Costa Rica, El Salvador, Guatemala, Panama, Honduras, Nicaragua and United States of América
Phone: (1) 2047837366 - (1) 2049901580

We are a Video Security Product development & supply company.

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