LIME posts USD3.94 million quarterly net loss

22 Feb 2010

Jamaican telco LIME posted a JMD351 million (USD3.94 million) net loss for the three months ended 31 December 2009 compared to a JMD33 million net profit in the same quarter in 2008, as costs associated with financing, depreciation and amortization increased 70%. Depreciation and amortisation charges for the quarter were JMD1.3 billion compared with JMD764 million for the comparative period in 2008. LIME blamed the recession and anti-competitive practices for the negative results, but maintained that it still increased certain segments of its business. ‘Despite the challenging economic climate, we continued to grow internet and data revenues and maintained market share on mobile,’ LIME said in the result statement. ‘Our fixed line revenues continue to be impacted by anti-competitive practices.’

Jamaica, LIME Jamaica