Millicom forecasts stronger service revenue growth in 2017

(Telecompaper) Millicom reported a drop in fourth-quarter revenues, hurt by weakness in its biggest market Colombia and El Salvador, while EBITDA increased thanks to improved profitability in Africa. Revenues fell 2.6 percent to USD 1.594 billion, and service revenue was down 0.9 percent on an organic basis. Adjusted EBITDA rose 3.1 percent to USD 566 million, helping the margin improve to 35.5 percent from 33.6 a year ago. Over the full year, Millicom was at the low end of its outlook with orga