Turkcell, the leading provider of mobile communications services in Turkey, has announced results for the quarter ended September 30, 2004. All in all, revenues increased 60% to US$969.3 million (US$606.4 million) in the third quarter of 2004. The deduction of US$299 million from Turkcell's revenues in the second quarter of 2004 due to ongoing legal disputes, should be taken into account.
Commenting on the results, CEO Muzaffer Akpınar said" As announced earlier in October, our subscriber base reached 22.3 million through the addition of 1,468,000 million net new subscribers during the third quarter. The principle reasons underlying this growth include the positive effect of seasonality on acquisitions, lower churn backed by the favorable macroeconomic environment as well as our successful retention efforts and Customer Relationship Management capabilities. In the first nine months of 2004, Turkcell added 3.3 million net new subscribers which corresponded to an 18% growth rate compared to year end 2003."
On the record high usage, he said " Our minutes of usage increased in the third quarter of 2004 to the highest level since the macro economic crisis in 2001 despite the dilutive impact of increasing prepaid subscriber base in our total subscriber base. Our blended minutes of usage per subscriber per month (“MOU”) increased by 12% to 73.6 minutes (65.7) in the third quarter of 2004."
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