One Communications books net income of BMD16m in 2019

16 Mar 2020

One Communications, the Bermudan holding company of US firm ATN International (ATNI), booked net income of BMD16.0 million (USD16.0 million) in FY 2019, up from BMD15.1 million the previous year. In a filing with the Bermuda Stock Exchange, One Communications reported that consolidated revenue for the twelve-month period was BMD136.3 million, broken down as BMD105.6 million in Bermuda and BMD30.7 million in Cayman Islands. Total operating expenses, meanwhile, were BMD114.4 million and capital expenditure for the year stood at BMD17.0 million – some BMD11.3 million lower than for FY 2018. The company paid BMD6.5 million in dividends for the year ended 31 December 2019, compared with BMD1.7 million in 2018, and total assets increased to BMD212.0 million from BMD205.6 million previously.

Commenting on the group’s financial results, CEO Frank Amaral said: ‘For Bermuda in 2019, we continued efforts to further improve and enhance our suite of internet, TV and mobile services … We were especially focused on the launch of our FibreWire TV platform, which provides customers with a choice as to when, where, and over what device, they want to watch … With respect to the company’s operations in the Cayman Islands, we continue to benefit from strong capital investment and continuing growth in the national economy.’

Bermuda, One Communications