Baltkom increases turnover and profit despite downturn

Latvian cable operator Baltkom posted revenues of LVL8m (€11.5m) for the first six months of this year, up 12% year-on-year despite the country’s severe economic difficulties.

Baltkom posted an operating profit of LVL1.2m, up 75% on the 2008 figure of LVL700,000. The company said it was continuing to provide new infrastructure and services, including LVL2.5m in a new next-generation data network that will offer internet speeds of up to 100Mbps, currently available to 30,000 households in the Juglā and Iļģuciemā districts of Riga, with plans to expand to 100,000 homes in the capital by the end of the year.

Baltkom has 230,000 subscribers in Latvia.