SUNBIZ

ATH Positioned Well, Shareholders Told

The Amalgamated Telecom Holdings Group is in a great position to retain its market leadership in Fiji while innovating for the future, both locally and further afield. This was the
27 Aug 2015 09:11
ATH Positioned Well, Shareholders Told
ATH general manager Ivan Fong and ATH group chairman Ajith Kodagoda. Photo: Paulini Ratulailai

The Amalgamated Telecom Holdings Group is in a great position to retain its market leadership in Fiji while innovating for the future, both locally and further afield.

This was the message from ATH general manager Ivan Fong at the group’s annual general meeting yesterday at the Holiday Inn Suva.

Mr Fong, airing similar sentiments to chairman, Ajith Kodagoda, said the efforts of the reform and consolidation are now being realised and having a positive impact on financials.

The ATH Group recorded a consolidated sales revenue growth of 10.6 per cent to $310 million against the past year’s growth of 3.9 per cent.

This was for the financial year ended March 31, 2015. It further recorded a 6.4 per cent improvement in gross profit to $206.7 million.

Plans With Fiji’s connection to the Southern Cross Cable, Mr Kodagoda said we are now the natural communications hub of the Pacific.

We connect Vanuatu and Tonga through the submarine fiber communications. Connections to Samoa and American Samoa are expected in the near future, Mr Kodagoda said adding connections to some other Pacific Island neighbours present strong possibilities.

Mr Kodagoda said these developments would provide a solid foundation for future growth of the group. “We have made great strides in five years but we must continue to forge ahead,” he said.

“Our priority now is to ensure that our ongoing and planned strategic investments that support our future growth are not compromised.

“Also the growth momentum achieved so far is sustained through infrastructure investments and improving our customers’ experiences.”

Mr Kodagoda said the board was confidence they have built the necessary skills, discipline and innovation to enable them to continue delivering their vision.

“We view the future with extreme diligence but equally with an abundance of exciting and unbridled energy.”

Adapting to change Meanwhile, Mr Fong acknowledged that given the pace of change we are faced with in their technology business, they must continue to adapt to change. “This is to ensure we continue delivering

innovative products and services to end-users and financial returns to shareholders,” he said.

“Although we still have some way to go, the foundation we have put down will serve as solid footing as we embark on our next stage of growth.

“This is starting with our presence in Kiribati, serving as a milestone for ATH, foray into international and regional markets. “We will continued to evaluate these opportunities for direct participation through investment of indirect participation through alliances or assisting other markets by leveraging the skills and know how developed in Fiji.”

Another thing ATH has to adapt to is decreasing demand for traditional voice and messaging.

Mr Fong stressed the explosion in demand for data and broadband internet has outstripped the volumes of the legacy services.

But, he said the shift towards digital media and internet connectivity also gives rise to many disruptive innovations and services.

As a result, he said margins, profitability are also impacted. ATH is bearing in mind that the industry’s continued investment in broadband infrastructure is critical to meet the anticipated demand explosion.

Feedback: rachnal@fijisun.com.fj

Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: