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Bulgaria's Vivacom Achieves 43% Profit Growth
Date: 29/10/2010
Bulgaria's Vivacom Achieves 43% Profit Growth

The Bulgarian telecommunications company Vivacom increased its profits by 43% in the first three quarters of 2010, year-on-year, according to the company's report.

The consolidated profit has grown by 82% and reached BGN 106.7 M. The main reason for the Vivacom's improved profitability is the increased client base, leading to a greater financial income from mobile services, the Bulgarian company's representatives comment.

Within the mobile services the Bulgarian telecommunications company has increased its profit by 30% to a total of BGN 228.1 M as a result of the greater client base, which almost completely makes up for the decrease in fixed phone traffic.

Vivacom representatives also stated that their company is as exception among other mobile operators in Bulgaria, as they have a positive balance from the mobile number portability. Since the mobile portability option started in 2008, over 50 000 mobile phone clients have chosen to transfer their numbers to Vivacom.

Another reason for the growth Bulgarian communications company is the increased popularity of its converged services, including its digital TV service, which kicked off in fall 2010.

Vivacom is the successor of the state-owned Bulgarian Telecommunications Company BTC, which was privatized in 2004. In 2005, it launched Bulgaria's third mobile phones operator Vivatel. BTC and Vivatel were merged into Vivacom in 2009. Vivacom's market share of mobile services remains behind those of earlier launched competitors M-Tel and Globul.

Topic: Business

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