ATH first-half net income up 36% to FJD24.7m

20 Nov 2015

State-backed Fijian company Amalgamated Telecom Holdings (ATH) and its group companies reported interim consolidated net income of FJD24.66 million (USD11.5 million) for its half year ended 30 September 2015, up 36% compared to FJD18.09 million in the corresponding year-ago period. The holdings group has significant interests in the local telecoms market through subsidiaries Telecom Fiji Limited (TFL), Vodafone Fiji, Fiji Directories, Internet Services Fiji (Connect), Fiji International Telecoms Limited (FINTEL), ATH Call Centre (ATH Intouch), and Pacific Emerging Technologies. It attributed the improved performance to an increase in revenue to FJD172.10 million and its ability to keep group-wide expenses under control. Vodafone Fiji continued to be the main revenue contributor to the group, it said, without providing further details.

In May this year, ATH formally completed the takeover of Telecom Services Kiribati Ltd (TSKL), Kiribati’s sole operator of mobile, fixed line and broadband services. At the time, ATH applied for and received a foreign investment certificate in Kiribati and has registered and capitalised Amalgamated Telecom Holdings Kiribati to complete the transaction. As previously reported by CommsUpdate, in April 2015 ATH emerged as the winner of the government’s auction for 100% of then state-owned TSKL, agreeing to pay AUD7.5 million (USD5.72 million) for the asset. TSKL is Kiribati’s sole operator of mobile, fixed line and broadband services, and operates a 2G mobile network across the Pacific island nation, recently complemented by 3G and 4G in Tarawa and Christmas Island, with a total of about 20,000 subscribers. In addition to mobile broadband and voice, the company offers fixed-wireless WiMAX data services plus ADSL on its fixed telephony network.