Telecom Argentina 1H profit up 1%

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Value-added services contribute to 21% revenue rise.

Phone company Telecom Argentina SA said Tuesday its first-half net profit rose 1% to 1.29 billion Argentine pesos ($282 million).
Profit was up only slightly in part because of higher amortization costs on infrastructure investments, though better financial results compensated for this, the company said.
Total sales rose 21% to ARS10.38 billion, largely because of higher earnings from value-added services sold alongside mobile and fixed-line products.
Mobile revenue rose 24% to ARS7.1 billion while Internet connection sales rose 27% to ARS925 million. Telecom made capital investments totaling ARS1.3 billion in the first half, up 25% from the same period in 2011.