28 Jul 2006

Telecom profits in Fiji up

9:11 am on 28 July 2006

Telecom profits in Fiji are up 42% despite rate reductions ordered by the Commerce Commission late last year.

Amalgamated Telecom Holdings has announced an after-tax profit of $20.5 million US dollars for the last financial year, up from $14.3 million US in the previous 12 months.

ATH has a monopoly on the local and overseas telecommunications markets and internet services through various companies.

ATH, which is majority-owned by the Fiji National Provident Fund, has attributed the improved profits to its reorganization and an increase in sales revenue to $138 million US dollars.