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ATH records positive results

 

Feb 21, 2014 06:09:44 PM

ATH records positive results Amalgamated Telecom Holdings Limited (ATH) and group of companies recorded positive results for their third quarter ending 31 December 2013.

The company recorded an interim and unaudited consolidated net profit after tax and minority interest of $12.6million compared to the consolidated net loss after tax and minority interest of $19.8million for the corresponding period last year.

The company in a statement said the result comes as a result of increased earnings from subsidiaries such as Vodafone and Fiji Directories and cost savings for FINTEL and Telecom Fiji Limitred.

The result of the same period in the previous year was also impacted by a one-off impairment adjustment.

Total revenue for the group increased over the same period last year whereas the overall expenses reduced by 28 per cent.

Meanwhile, the company also today declared an interim dividend of 3 cents per share of $12.6million.

The interim dividend is based on the ATH Group's performance for the six-months ended 30 September 2013, in which an interim and unaudited consolidated net profit after tax of $19.6million was recorded.

Consolidated net profit after tax and minority interest for the half year was $8.6million.

Payment to ATH's 1696 shareholders is scheduled for 21 March.

Consequently the 'ex-benefit' rating by the SPSE will take effect from 5 March and the company's share register will be closed on 13 March for the purposes of the interim dividend payment.

FijiLive

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