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General

Millicom revenues down 4% in Q4 on forex effects, FY profit up 1.5%

Friday 8 February 2019 | 09:36 CET | News
Millicom reported fourth-quarter service revenues down 4.4 percent to USD 1.01 billion, impacted by weaker currencies in a majority of its Latin American markets, the restructuring of its Africa operations, as well as the recent adoption of IFRS 15 accounting standards. However, organic service revenue growth in its main Latin American business was up 3.7 percent in the quarter and 4.3 percent for the full year 2018, compared to 0.9 percent in 2017. The figure beat the company's 2-4 percent full-year organic growth outlook, thanks above all to a rapid expansion of its residential cable

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Categories: General
Companies: Cable Onda / Millicom / Tigo
Countries: Africa / Latin America
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