Amalgamated Telecommunication Holdings has announced a sales revenue of $577.1 million for its third quarter ending on December 31, 2022 compared to $481.4 million for the same period in 2021.
This was highlighted in its market announcement.
The Group recorded an interim and unaudited consolidated net profit before tax of $24 million, compared to $64.65 million recorded for the corresponding period last year.
The Group said this decline is mainly due to the negative impact from PNG Project as the project went live from April 2022.
“Also, the unrealized exchange loss resulted from conversion of USD loan as Fijian dollar weaken against USD compared to exchange rate of 31 March 2022. Also, increase in finance cost as Group obtains additional financial facility during the year.”
Also, the Group recorded an interim and unaudited consolidated profit after income tax attributable to members of the holding company and after other comprehensive income of $32.6 million.
This is a slight decline of 7 per cent compared to $35.3 million recorded for the corresponding period last year.