Iraqna results under pressure in Q1Mobile operator Iraqna reported a decline in profits in the first quarter as the civil unrest in Iraq hampered its business. While revenues were up 9.3 percent from a year ago to USD 136.9 million, EBITDA fell 14 percent to USD 57.9 million on higher security and operating costs. The company said it was experiencing delays in acquiring SIM cards and equipment to expand its network to the north and south of the country, while the ongoing conflict in the country was putting its staff and assets at risk. The continued migration of Iraqis was also raising churn to 17.0 percent, from 4.2 a year ago. Iraqna finished the quarter with 2.844 million subscribers, down from 2.904 million at the end of 2006, but up from 2.166 million a year ago.
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