Baltkom defies recession

By Chris Dziadul

The leading Latvian cable operator Baltkom has posted H1 results that defy the scale of the recession the country currently finds itself in.

Its consolidated turnover in the period was LVL8 million (Ä11.5 million), or 12% more than in the corresponding period in 2008, while operating profits rise 70% year-on-year to LVL1.2 million.

Baltkomís internet subscriber total as of the end of June was 50% higher than a year earlier, and 80% of new connections were to a NGN network.

This currently serves 30,000 homes in the capital, Riga, with the figure expected to rise to 100,000 by the end of the year.

Baltkom was launched in 1991 and currently claims 230,000 cable TV subscribers.