September 1, 2016 11:20 am

ATH Group records increases in revenue

Good news for shareholder of the ATH Group of Companies as financial records for operational year stated an increase in sales revenue by 14.07 percent. At yesterday’s annual general meeting, the group’s general manager, Ivan Fong said the sales revenue for the year ending March 31 was $356.2 million. The corresponding gross profit also increased […]

Good news for shareholder of the ATH Group of Companies as financial records for operational year stated an increase in sales revenue by 14.07 percent.

ATH Group General Manager, Ivan Fong has announced an increase in sales revenue for the year. GOOGLE
ATH Group General Manager, Ivan Fong has announced an increase in sales revenue for the year. GOOGLE

At yesterday’s annual general meeting, the group’s general manager, Ivan Fong said the sales revenue for the year ending March 31 was $356.2 million.

The corresponding gross profit also increased to $229 million, a 10.9 percent increase from last year’s records.

Mr Fong said established subsidiaries have continued to focus on organic growth, improving operating efficiencies and the quality and reliability of Broadband and Internet services.

FONG: “Throughout the country we are committed to the capital investments required to drive these – namely Vodafone Fiji’s continued drive to improve wireless broadband, now delivering the latest 4G and LTE advanced technologies, while TFL has been hard at work with its latest MSAN upgrades that are capable of delivering VDSL and GPON fiber to the home services.”

The general manager also acknowledged the contributions of ATH Kiribati Limited and Datec Fiji Limited, two newly acquired businesses that have turned around and made small but significant progress.

FONG: “We recall our discussions at the AGM about one year ago where shareholders queried ATH’s confidence in acquiring businesses that were performing poorly. For sure the efforts and resources required by the group have been quite challenging and demanding for all involved but it has been absolutely delightful to witness the rejuvenation of these entities and their contributions within a year.”The general

The general said that despite the effects of Tropical Cyclone Winston, it was heartening to witness the return to normalcy due to the colalborative efforts of companies and disaster management entities.

EBITDA increased by 3.4 percent to $134.5 million and total profit was $81.8 million which means that profit to shareholders was $56.7 million after the $25.1 million interest.

The 18th AGM for the group was held at the Holiday Inn in Suva.