Q2 revenue was $1.57bn and showed poor organic growth of 0.5% (with LatAm declining 0.7% and Africa increasing by 9.2%). Remember Q1 revenues were up by 2.1% yoy organically (with LatAm growing 0.7% and Africa by 11.9%). The impact of macro-economic headwinds on Millicom’s business was stronger than in the previous quarter and more noticeable in Colombia and Central America. In addition, the LatAm performance was affected by the further decline in handset sales in Colombia. Organic serv
21 Jul 2016
Growth slowdown in LatAm continues
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Growth slowdown in LatAm continues
- Published:
21 Jul 2016 -
Author:
Jean-Michel Salvador -
Pages:
3
Q2 revenue was $1.57bn and showed poor organic growth of 0.5% (with LatAm declining 0.7% and Africa increasing by 9.2%). Remember Q1 revenues were up by 2.1% yoy organically (with LatAm growing 0.7% and Africa by 11.9%). The impact of macro-economic headwinds on Millicom’s business was stronger than in the previous quarter and more noticeable in Colombia and Central America. In addition, the LatAm performance was affected by the further decline in handset sales in Colombia. Organic serv