TSTT plans new submarine cable between Trinidad and Tobago; net profit boosted by savings

20 Jun 2012

The Trinidad and Tobago Guardian reports that the net profit of majority state-owned telecoms provider, TSTT, increased by 131% to TTD91.7 million (USD14.0 million) for the financial year ending 31 March 2012, compared with the TTD39.6 million that the company made during FY 2010/11. Presenting the company’s audited financial statements for FY 2011/12, TSTT chairman Everald Snaggs attributed the increased profitability to a 3.2% (TTD70.4 million) reduction in operating costs, particularly staff costs. TSTT has been in protracted negotiations with labour union representatives over reducing its wage bill. The telco said that it has ‘completed negotiations for its senior staff up to the period of 2007 and that it hoped to conclude negotiations with representative unions for the period 2008 to present so that its entire staff can be positioned for further improvement of the company’s performance.’

TSTT also claimed a ‘25% increase in customer growth’ with regard to IPTV service ‘Blink Entertainment’ in FY 2011/12. It also reiterated promises of a rollout of ‘Bzone’ Wi-Fi hotspots to complement its mobile broadband rollouts (offering free Wi-Fi access to TSTT customers) and the introduction of a wireless subscription home television service. Additionally, the telco announced that it would install an independent submarine fibre-optic cable to improve inter-island connectivity and broadband services between the twin islands of Trinidad and Tobago.

Trinidad and Tobago, Telecoms Services of Trinidad & Tobago (TSTT, bmobile)