Connex revenues up 27%

Mobile telephony operator Connex derived service revenues for the first three quarters of this year of $183.3 million, representing a year-on-year growth of 27.7% from the level of $144.1 million recorded at the end of September 2003, company officials announced on Wednesday.

Nine-month service revenues amounted to $493.4 million. Connex’s total number of subscribers had reached 4,370,000 by the end of September 2004, 47% higher than a year ago. Its own estimates indicate it has a market share of 48.3%.

“Connex’s third quarter results reflect our continuing and constant growth both in consumer and business markets,” said Ted Lattimore, President and COO at Connex.

The monthly average revenue per user (ARPU) in the third quarter was $13.06, compared to $15.44 for the same period last year. The decrease, according to the quarterly report of Telesystem International Wireless (TIW), the owner of Connex, was primarily the result of the addition of more than 1.4 million new subscribers over the last 12 months with a lower average usage profile than the existing subscriber base.

Operating income before depreciation and amortisation (OIBDA) for the July-September period increased by 27.1% to $97.1 million, compared to $76.4 million for the same period last year. ZF