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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (22443)	8/14/2001 8:19:09 AM
From: Tony van Werkhooven	Read Replies (1) \| Respond to of 22640

Related Quotes TNE 12.68 +0.00 delayed 20 mins - disclaimer Monday August 13, 5:37 pm Eastern Time Brazil Telemar Q2 net profit down 32 pct SAO PAULO, Brazil, Aug 13 (Reuters) - Brazil's biggest fixed-line telephone company Telemar (NYSE:TNE - news) said Monday second quarter net profit fell 32 percent to 115.4 million reais ($46.2 million) over the same three month period in 2000. The company, which operates in a region spanning 16 states from the northern Amazon to Rio de Janeiro in the southeast, said in a statement second quarter net revenues rose 5.7 percent to 2.4 billion reais. Analysts had expected unpaid telephone bills to dent profits of the rapidly-growing company in the past quarter. First half net profit rose 8.6 percent to 285.4 million reais, the company said. First half revenue totaled 4.7 billion reais, a 25.6 percent increase on the same period of 2000. Telemar is the most heavily-weighted stock on the Sao Paulo Stock Exchange's benchmark Bovespa (^BVSP - news) index. The results were announced after the market's close. The stock ended 0.72 percent off at 31.55 reais. ($1 equals 2.5 reais)