LUXEMBOURG (dpa-AFX) - Millicom International Cellular SA (MIICF.PK), a provider of cellular telephony services, announced third-quarter Group EBITDA of $459 million with an underlying margin of 38.6%, in line with the firm's expectations and forecast. In the 2013 third quarter, the company's revenue had risen 7.6% to $1.29 billion. This would have reached 10% were it not for the negative impact of regulatory measures, Millicom added.
Smartphone sales in Latin America amounted to 507,000 in the third quarter, with overall growth in data advancing 30% in the recent three-month period. Growth in Africa was fuelled by 250,000 new customers in DR Congo's Kivu province in three months, according to the company.
Commenting on the results, Millicom's President and CEO Hans-Holger Albrecht said: 'This quarter's strong growth highlights the continuing opportunity in Africa and Latin America. Combined with the shift to data, progress in mobile financial services and the launch of new media services almost weekly, we are on track to deliver the transformation of the company into a digital lifestyle provider.'
Copyright RTT News/dpa-AFX