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Mexico's Telmex 2Q profits down 12 pct



By AP
22 July 2008 @ 09:01 pm EST

MEXICO CITY - Mexican fixed-line phone company Telefonos de Mexico SA says its second-quarter profits fell 13 percent as it faced stronger competition.

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The company, owned by Mexican billionaire Carlos Slim, reported Tuesday that second-quarter net profits fell to 6.2 billion pesos (US$612 million) from 7.1 billion pesos (US$701 million) in the same period last year.

Telmex said it had 17.7 million lines in service on June 30, the end of the second quarter, 3 percent less than in the same year-ago period.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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