UTS posts 2013 loss; Suriname, SKN ops blamed for decline

10 Jul 2014

Curacao-based, pan-Caribbean mobile group United Telecommunication Services (UTS) generated a net loss of ANG29 million (USD15.9 million) in 2013, the Daily Herald reports. According to financial data observed by the website, the slump is attributed to the company’s loss-making units, UNIQA in Suriname and UTS Cariglobe in Saint Kitts & Nevis (SKN); discounting the results of those two units – a combined net loss of ANG34 million – the company’s bottom line for 2013 would have been ANG4.7 million.

Meanwhile, UTS enjoyed a degree of success in its ‘UTS Eastern Caribbean’ division, which encompasses the company’s operations in Sint Maarten, Saint-Martin, Saint-Barthelemy, Bonaire, Sint Eustatius and Saba, as well as the loss-making SKN unit. UTS Eastern Caribbean posted a net profit of ANG13 million in the year ended 31 December.

As previously reported by TeleGeography’s CommsUpdate, UTS’s management shared plans to offload the loss-making units in Suriname and SKN in May 2013; it has now been revealed that the telco hopes to conclude a deal to sell the troublesome subsidiaries by 3Q14, although no buyers have been identified.

Curaçao, Saint Kitts and Nevis, Sint Maarten, Suriname, Chippie Bonaire (UTS), UNIQA (became part of Digicel Suriname), UTS (Curacao), UTS (Saint-Martin), UTS (Sint Maarten), UTS CariGlobe (Saint Kitts & Nevis)