UPDATE 1-Millicom Q2 core profit tops forecast, repeats outlook

miércoles 16 de julio de 2014 02:58 GYT

* Core EBITDA ex corp costs $551 mln vs forecast $531 mln

* Growth boosted by Colombia, Africa, mobile financial services

* Sticks to 2014 forecast (Adds CEO comment, detail, EBITDA comparison)

STOCKHOLM, July 16 (Reuters) - Emerging markets telecoms group Millicom on Wednesday reported an unexpected rise in second-quarter core profit, boosted in part by strong growth in Africa and in mobile banking, and repeated its outlook for 2014.

After years of expanding its mobile customer base in Latin America and Africa, Millicom has shifted its focus to selling existing customers higher value services like data, mobile financial services and cable TV.

That, and a push into online ventures like African home shopping site Jumia, has raised costs and pushed down profitability.

But the company aims to expand revenues to $9 billion annually by 2017 from $5.2 billion last year, making it a stand-out growth story in an industry where income for most operators has been flatlining.

"We saw an acceleration of the strong revenue growth achieved in Q1 taking our organic revenue growth in Q2 to 9 percent," CEO Hans-Holger Albrecht said in a statement.

"We are taking market share in Africa and I expect that to continue."   Continuación...