Millicom International Cellular SA (MIICF.PK) a provider of cellular telephony services, Wednesday reported lower normalized net profit for the first quarter in spite of higher revenue.
For the quarter, the firm posted normalized net profit of 143 million versus $175 million last year. Revenue for the period, however rose to $1.246 billion from $1.168 billion reported a year ago.
The company said its business performance was in line with its view with an 8.3 percent like-for-like increase in revenue in the first quarter.
Looking forward, the company said it sees 2013 EBITDA margin to be above 40 percent, excluding Online, and to decline at a lower rate than over the past twelve months. It also expects Online division to generate revenue in excess of $100 million and EBITDA losses to be in the range of $125 million to $200 million.
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