On The Money - In Brief
- Sudatel has announced a year-on-year fall of 52% in third-quarter net income after auditors required the telco to write off the cost of acquiring customers over a three-year period rather than five, reports Meed. Net income came in at USD43 million on the back of a 14% climb in revenue to USD186 million. Sales were boosted by a 23% increase in wireless subscribers after a carefully targeted campaign to sign up former MTN Sudan customers.
- Starcomms Plc, the first telecommunications company to be listed on the floor of the Nigerian Stock Exchange and one of the Nigeria's leading CDMA, full service telecommunications operator has recorded an 84 per cent consolidated revenue growth from N14.7 billion to N27.133 billion for the nine month period ended September 2008.
- South African cellular operator Vodacom has upped its interest in wireless broadband firm WBS to 24.9%, exercising an option to acquire an additional 14.9% stake at a price of ZAR119.2 million (USD11.6 million). WBS operates 2.5GHz WiMAX networks in South Africa under the name iBurst and Vodacom is known to be keen to expand its own mobile broadband offerings using WiMAX technology.
- Egyptian telecoms group Orascom Telecom has revealed results for the three months ended 30 September 2008, reporting a drop of 28% in net profit year-on-year to USD90.5 million, with the company attributing the fall to poor revenue performance from its operations in Pakistan.