Digicel Annual Profits Climb By 27%
Bermuda-domiciled Digicel Group Ltd today [June 13] announced their financial results for the year ended 31 March 2011. The results represent Digicel’s 32 markets worldwide, which employ over 5,500 people.
The statement said, “With subscribers up 6% to 11.5 million across all 32 markets, revenues for Digicel Group Limited were up 27% to US$2.23 billion with EBITDA margins solid at 43% following the successful integration of the Pacific.
“The company posted EBITDA of US$954 million for the year up from US$753 million the previous year and representing a year on year increase of 27% – similar to its revenues growth.”
“Digicel’s balance sheet and liquidity position has continued to improve with cash reserves of over US$600 million at 31 March 2011. The Group’s strong financial performance has been endorsed by ratings agency, Fitch, which recently upgraded the Group’s debt as a result of its “continued strong operating performance”.
“Digicel made significant progress in terms of data services with data revenues up 104% year on year and continued strong growth of non-SMS data revenue. Overall, data now accounts for 15% of service revenues.”
Digicel Group CEO, Colm Delves, said; “It’s been another successful year for Digicel as we continue to grow our business, introduce innovative new technologies to our customers and deliver on our commitments to providing best value, best service and best network.”
“We have successfully integrated our Caribbean and Pacific operations and expanded our capabilities in the business solutions area and have driven growth in our Caribbean and Pacific markets – especially in Haiti and Papua New Guinea
He continues, “This – in addition to the improving economic conditions across our markets – has resulted in robust performance and delivery on all of our targets once again. I would like to thank our valued customers, partners and staff for their ongoing loyalty to Digicel and assure them that our focus remains as always on delivering them the best of the best.”
