Cellular provider

Cellcom

reported that its net profit leaped 19% against the comparable quarter of 2000 to NIS 131 million. Its earnings exceeded fourth-quarter results by 9%.

Operating profit grew to NIS 172 million, 21% higher than in the fourth quarter.

Earnings before taxes, interest, depreciation, and amortization grew to NIS 354 million, 14% more than in the fourth quarter, comprising 31% of total revenues.

Revenues increased to NIS 1.12 billion, 2.3% more than in the fourth quarter, for which the company reported revenues of NIS 1.09 billion.

But revenues are still short of the record volume of NIS 1.16 billion posted for the third quarter of 2000.

The company netted another 160,000 subscribers in the first quarter, lifting its subscriber base above 2 million users.

Its subscriber base grew 8% from the fourth quarter, but revenues grew by only 6%. The discrepancy is partly due to special deals the company offers users, such as those pre-paying lower rates for airtime.