UPDATE 1-Telecom Argentina 2nd-qtr net up 35 pct on year
(Updates with first half figures, reasons for rise)
BUENOS AIRES, Aug 5 (Reuters) - Telecom Argentina SA (TEC2.BA), one of Argentina's top phone companies, said on Tuesday its second-quarter net profit jumped 35 percent from a year ago to 341 million pesos ($111 million).
The net profit was higher than market expectations. A Reuters poll of five analysts forecast net income at a median of 295 million pesos, with estimates ranging from 283 million to 320 million.
The company is controlled by Telecom Italia (TLIT.MI) and an Argentine investor group run by the Werthein family.
Telecom Argentina said in a statement its net income in the first half of the year jumped 58 percent to 613 million pesos, citing a 20 percent rise in net revenue to 5.05 billion pesos.
Growth in net revenue stemmed mainly from the company's mobile and Internet segments. The number of broadband subscribers jumped by 50 percent in the first half, year-on-year.
The company's cellular phone business accounted for 65 percent of sales revenue in the first half of the year, up from 62 percent in the same period of 2007.
The company said frozen tariffs for fixed phone lines had hurt profitability in that arena and high inflation was increasing its costs. ($1 = 3.06 pesos on June 30) (Reporting by Hilary Burke; editing by Richard Chang and Braden Reddall)
