Telefonica del Peru net profit totals 169.4 million soles in 2Q

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Andina

Telecommunications company Telefonica del Peru SAA said its second quarter net income rose to 169.4 million soles ($60 million) from PEN164.4 million in the same quarter of 2009.

Second quarter revenues rose to PEN967.1 million, compared to PEN962.9 million in the same period last year, according to Dow Jones Newswires.

Telefonica del Peru said gains were driven primarily by Peru’s economic recovery in the first half of 2010, better consumer confidence and "significant" increases in private investment.

Spain’s Telefonica SA (TEF) controls Telefonica del Peru, which still has small float on the Lima Stock Exchange.

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