ATH posts profits of USD46.1m in year to March

31 Jul 2008

Fijian telecoms service provider Amalgamated Telecom Holdings Limited (ATH) reported consolidated net profits of USD46.1 million for its fiscal year ending 31 March 2008, up 11.8% on the USD41.3 million net income reported in 2007. ATH, the parent of Telecom Fiji, Vodafone Fiji and Fiji Directories, said consolidated sales rose to USD269.6 million in 2007/08, against USD257.3 million a year ago. Telecom Fiji generated 35.5% of the group’s sales revenue in 2007/08, Vodafone Fiji accounted for 42.9% and Fiji Directories contributed 2%. In addition, Telecom Fiji’s wholly owned subsidiaries Xceed, Connect and Transtel contributed 3.4%, 4.2% and 9.3%, respectively, while ATH as a holding company accounted for 2% of sales.

ATH chairman Kanti Tappoo said the financial results were the result of improvements in the company’s operational efficiencies, an increased focus on ‘aggressive marketing’, and the introduction of new products and services. ATH intends to pay a dividend totalling USD37.98 million, equivalent to USD0.09 per share – up 50% year-on-year.

Fiji, Telecom Fiji Limited (TFL), Vodafone Fiji