Cellcom Israel posts higher 3Q profit, sales

AP News
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Posted: Nov 16, 2009 4:20 PM

Cell phone company Cellcom Israel Ltd. said Monday its third-quarter profit and revenue increased as its subscriber base grew.

For the three months ended Sept. 30, the company earned 289 million shekels ($77 million), up 19 percent from a profit of 242 million shekels in the same period a year earlier. Cellcom earned 2.91 shekels (77 cents) per share in the latest quarter.

Revenue increased slightly to 1,675 million shekels ($446 million) from 1,650 million shekels a year earlier.

The company said its subscriber base grew by about 31,000 net subscribers from the preceding quarter, to about 3.3 million at the end of September.

Shares rose 2 cents to $30.78 in afternoon trading.