LISBON, Portugal-TMN, the mobile division of Portugal Telecom, posted 1999 first-half results showing net income of $54 million, a 10-percent increase compared with the same period in 1998.
The average revenue per user fell 26 percent in the first quarter to $30, compared with the first half 1998 level, reflecting an aggressive pricing reduction policy during the last 12 months, said TMN. However, during the second quarter ARPU performed more favorably, up 6 percent over first-quarter 1999 levels.
As of June 30, TMN had 1.7 million subscribers, a 70-percent increase from the year before.
