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General

Hondutel losses widen to USD 5.5 mln in Q2

Tuesday 24 July 2018 | 10:33 CET | News
Honduran state-owned operator Hondutel reported a HNL 137 million (USD 5.5 million) loss in the second quarter of 2018 compared to a HNL 2.1 million loss in Q1 and a HNL 25 million profit a year earlier. The company had to pay out some HNL 85 million in redundancy payments up to the end of May due to a restructuring plan designed to save HNL 454 million in annual costs, reports local daily La Prensa, citing the company's CEO Malvin Maldonado. Hondutel is now seeking external funding to continue with its rescue plan and accelerate its investment programme, said Maldonado.

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Categories: General
Companies: Hondutel
Countries: Honduras
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