ATH books record FJD85m profit in 2016/17; reckons BlueSky takeover 'on track'

29 Jun 2017

Fiji-based Amalgamated Telecom Holdings (ATH) and its group companies reported a record net profit of FJD85.27 million (USD41.64 million) in the fiscal year ending 31 March 2017, marking a 4.2% improvement on the figure of FJD81.83 million booked in 2015/17. According to the ATH group’s financial statements released yesterday (28 June), the financial reports confirm that interim dividends of FJD8.44 million were paid and final dividends of FJD16.88 million were provided by the holding company during the year ended 31 March 2017. In the announcement sent via the South Pacific Stock Exchange, ATH also said it booked a consolidated profit after tax and minority interest of FJD54.2 million for the year.

ATH is Fiji’s largest telecoms holding company, through its investments and provision of direct services in a broad range of telecommunications and related services throughout Fiji, Kiribati and Vanuatu. The group comprises ATH, Telecom Fiji, Vodafone Fiji, Fiji International Telecommunications (FINTEL), Fiji Directories, ATH Kiribati, Datec (Fiji) and its subsidiary, Datec Australia, and Telecom Vanuatu. The group is currently in talks concerning a possible deal to acquire BlueSky Communications which operates in American Samoa, Samoa and Cook Islands. The Samoa Observer quotes ATH chief executive officer Ivan Fong as saying that the sale is ‘on track’, and a final decision should be announced soon. ‘At this stage, what we’ve done is applied for the regulatory consent for the transfer of licences in American Samoa, Samoa and Cook Islands … That process is on the way right now and we’ve had discussions with the Office of the Regulator and what we know is our application seemed to be all in order,’ he said. ‘At this point in time, because each country has their own rules and regulations to go through about the application, and to determine whether or not they will issue the consent,’ he went on to say.