Bakrie Telecom grows FY revenues 71%
Indonesian fixed wireless operator Bakrie Telecom reported net revenues of IDR 2.202 trillion for 2008, up 70.7 percent on strong susbcriber growth. The company finished the year with 7.3 million customers, up from 3.8 million in 2007. EBITDA improved 50.9 percent to IDR 822.8 billion, while net profit was down 5.2 percent to IDR 136.8 billion due to forex losses. The company covered another nine cities with services in Q4, taking the total to 64 at year-end. Bakrie Telecom targets 10.5 million customers in 2009.