Maxcom from Mexico reports a 13% drop in revenues in 1Q 2016

 

Telephony, internet and IPTV operator Maxcom Telecomunicaciones from Mexico submitted its financial report for the first quarter (1Q) of 2016 in which it presented revenues of USD 31 million, representing a 13% drop compared to the same period of 2015 .

 

In addition, it reported a total of 205,426 customers, i.e., 15% less than in 1Q 2015. In its presentation to the Mexican Stock Exchange (BMV), the company justified this fall on the loss of its former public telephony business, the cancellation of inactive prepaid mobile contracts and o low-margin residential accounts.

 

Finally, it showed a net loss of USD 5.6 million. Maxcom reported in early March that will challenge a fine of USD 1.8 million imposed by the Federal Telecommunications Institute (IFT) of Mexico for breach of service quality.

 

In March 2016, the owner of the Mexican telephone company Marcatel, Gustavo de la Garza, said that it would evaluate buying Maxcom if it is ever put on sale, local daily El Financiero reported.