Costa Rica's Racsa grows for first time in 6 years

Costa Rican broadband provider Racsa will emerge from 2015 with its head above water. The telco reports that revenues will reach 3bn colones (US$5.7mn) more than last year, and expenses will fall 1bn colones.

This year will be the first in the last six that Racsa has reported a profit, reaching some 4.5%.

Francisco Calvo, general manager at Racsa, said that the change in the firm's financial situation responds to a remodeling of the business strategy.

"This is the result of efforts made in new business opportunities, innovations, customer retention, finance discipline, and synergies within the Grupo ICE," he said.

Racsa had been in trouble for several years and has been the subject of bankruptcy rumors for some time now, with the Costa Rican government taking some action in the matter. ICE recently sued the nation's comptroller's office for auditing the broadband provider, claiming it is interfering in decisions involving the future of its subsidiary.

The telco gave back several of its spectrum concessions in September, including some critical to deploying 5G network services in the future.