Brazil: Vivo Participações posts profit in first half and loss in second quarter

31 July 2008

Sao Paulo, Brazil, 31 July – Brazilian telecommunications holding company, Vivo Participações, posted profit for the first half of 196.7 million reais (US$125.7 million) in the first half compared with a loss of 41.7 million reais in the same period of 2007, the group said in a statement published Wednesday on its webpage.

In the second quarter of the year the company posted a loss of 59.5 million reais, or slightly less than the loss posted for the year on year period.

The company’s customer base rose from 33.786 million at the end of the first half of 2007 to 40.345 million at the end of June this year.

Vivo, however, lost market share in the period – from 31.7 percent to 30.4 percent – whilst the disconnection rate rose from 2.5 percent in the second half to 2.6 percent in the first half of this year.

Vivo is a joint venture of Portugal Telecom and Spain’s Telefónica Móviles. (macauhub)