KeyTech books BMD2.4m loss after writedown

20 Oct 2016

Bermuda-based KeyTech Holding has reported a net loss of BMD2.4 million (USD2.4 million) for the full year ended 31 March 2016, which it says was primarily the result of a BMD4.3 million writedown and a one-time charge of BMD1.4 million relating to staff termination charges. KeyTech, which owns telecoms interests in Bermuda and the Cayman Islands, including Logic Communications, CellOne and Bermuda CableVision, said earnings before interest, tax, depreciation and amortisation (EBITDA) and one-time charges for the period totalled BMD22.5 million compared with BMD3.3 million in the prior year. Consolidated revenue for the year to 31 March 2016 was BMD89.3 million compared with BMD66.9 million in the prior year – driven by the acquisition of CableVision and BOTCAT, its Cayman television business.

Bermuda, Cayman Islands, One Communications