18 Oct 2006

Solomon Telecom reports more than 3 miilion US dollar profit to March 2006

11:19 am on 18 October 2006

Solomon Telekom has made a profit of almost 3-point-5 million US dollars after tax for the year to March 2006.

In the company report, the chairman John Beverly, says this is 13-percent above projection, due to increased business activity in the country.

The SIBC reports Mr Beverly saying the National Provident Fund invested a further 1.5 million US in equity, while Cable and Wireless invested an additional 1.8 million US dollars.

He says these additional investments bring changes to shareholding in the company with the NPF holding almost 65%, Cable and Wireless 32%, and the Investment Corporation of Solomon Islands, 2%.