RadioMobil, the Czech arm of Deutsche Telekom’s T-Mobile unit, has reported better-than-expected results for 2001. The mobile operator has closed the gap on the Czech number one Eurotel, and it also says that its profits are likely to grow further this year. However, it is to retain all profits to finance further investments in the future.
The company has improved its net profit by 48% to $72.8 million, as its revenues and client base increased. RadioMobil says it now has 2.85 million customers at the end of 2002. Although it is closing the gap with its rival, Eurotel is has the lead with 3.24 million customers at the end of the same period.
The Czech market is nearing saturation, with 70% of the population owning a mobile phone. As a result, the operators are turning their attention to the corporate sector, where demand for data services is expected to continue to growth.