SUNBIZ

ATH Profit Jumps By 244 per cent

Amalgamated Telecom Holdings Limited and its group companies recorded a 244 per cent increase in its audited consolidated profit after income tax and minority interest for full year ended March
01 Jul 2015 09:38
ATH Profit Jumps By 244 per cent

Amalgamated Telecom Holdings Limited and its group companies recorded a 244 per cent increase in its audited consolidated profit after income tax and minority interest for full year ended March 31.

$49.8 million was recorded for the period compared to $14.4 million recorded for the previos corresponding period.

The overall profit recorded has improved significantly for the year as a result of favourable performance in major subsidiary companies.

Reduction in cost for the group was the determinant for the increase in profit mainly recorded for Telecom Fiji, FINTEL and Fiji Directors Limited.

Consolidated group revenue for the year has increase by 10.5 per cent to $310.6 million compared to the same period the past year.

Vodafone Fiji continued to be the highest revenue contributor to the group followed by a turnaround performance by Telecom Fiji.

However, there was a marginal decline in revenue recorded for other subsidiaries.

The board of directors thanked the management and staff of ATH Group for a successful financial year.

They are optimistic that the momentum will be continued and the group will aim to maintain positive results for the new financial year.

 




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