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Axelero in the black for the first time

Matáv Rt?s ISP subsidiary Axelero Rt said it closed last year with a profit, for the first time since established. The 2004 net income of the company totaled Ft 655 million on Ft 19.8 billion revenue, which was 65% higher than a year earlier, Axelero said in a press release. The revenue growth was driven by the fast growing ADSL market, with a 150% turnover increase in this sector year-on-year. The subscriber base of the company rose 26.3% in 2004 to 251,000. Its market share reached 39% among broadband service providers and 43% in the dial-up market.