Millicom flags improper payments as Q3 core profit tops forecasts
STOCKHOLM Oct 22 (Reuters) - Emerging markets telecoms and media group Millicom reported third-quarter core profit above market expectations on Thursday and said its 2015 guidance was unchanged, excluding currency effects.
In a separate statement late on Wednesday Millicom said it had reported to U.S. and Swedish law enforcement authorities potential improper payments made on behalf of the its joint venture in Guatemala.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $560 million against $549 million a year ago and compared to a mean forecast of $541 million in a Reuters poll of analysts.
Revenues were $1.64 billion and rose by 7.2 percent on a like-for-like basis compared to the year-ago quarter. Analysts had on average expected revenues of $1.66 billion.
The Latin America and Africa-focused firm said it was comfortable with its July EBITDA guidance of between $2.12 billion and $2.26 billion for 2015.
(Reporting by Sven Nordenstam and Olof Swahnberg; editing by Niklas Pollard)
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