Digicel reports earnings of over $1bn for first time
Digicel Group, the Caribbean-based mobile phone operator owned by businessman Denis O’Brien, has reported earnings of over $1bn for the first time.
The figures were boosted by a 27pc increase in subscribers to 12.8m while revenues came in at $2.54bn for the year ended March 2012.
The company operates in 30 markets in the Caribbean, Central America and the Pacific with earnings before interest, tax, depreciation and amortisation at a strong 45pc.
EBITDA was $1.082 (€868.2m) – a 13pc increase year-on-year.
The growth was supported by Digicel’s 4G mobile offering which is now available on 14 markets.
Commenting on the performance, Digicel Group chief executive, Colm Delves, said; "I am pleased to report that Digicel has closed out another strong year in which, for the first time in our 11 year history, our annual EBITDA was over US$1bn.
“With 12.8 million subscribers across 30 markets, Digicel has delivered 14 revenue growth placing us at the leading edge of performance amongst telecoms operators worldwide."
He added: "I would like to take this opportunity to thank our customers for their loyalty to Digicel and our partners and staff who always go the extra mile to ensure that our customers benefit from what we do and how we do it."
Denis O'Brien, Chairman and Founder of Digicel Group, commented; "The results announced today reflect the continued growth and development of Digicel in the Caribbean, Central America and Asia Pacific,” he said.
“The success of Digicel is due to the commitment of a very strong management team and workforce whose sole focus is on the highest standards of service delivery in all markets."