Financial

ATH records $16.2m profit

Amalgamated Telecom Holdings Limited (ATH) has recorded an interim and unaudited net profit after tax of $16.2 million for the first quarter of 2016. This is an increase of 42 percent compared to the same period last year. In a statement, ATH said the sales revenue grew by 21 percent to $98.6 million as compared […]

Peni Shute

August 25, 2016 9:34 am

Amalgamated Telecom Holdings Limited (ATH) has recorded an interim and unaudited net profit after tax of $16.2 million for the first quarter of 2016.

This is an increase of 42 percent compared to the same period last year.

In a statement, ATH said the sales revenue grew by 21 percent to $98.6 million as compared to what was achieved for the same period last year.

The increases were from main revenue streams for group such as access fees, call revenue, data network and internet revenue and equipment and ancillaries. The perfomance of subsidiary companies for this quarter was encouraging that attributed to the favourable results for the group.

Meanwhile, the group overall expenses alternatively increased by 16 percent.

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