GO registers €28.1 million pre-tax profit

GO approves a dividend of €0.11 per share, amounting to a net payment of €11.1 million to shareholders

4 May 2017, 1:45pm
GO plc has registered a profit before tax of €28.1 million, underpinned by significant year on year increases in revenues, which grew by €33.3 million to €157 million, and in Group Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) which grew by €10 million to €61.6 million, an increase of 19.4 per cent.

At its AGM yesterday, GO approved a dividend of €0.11 per share, amounting to a net payment of €11.1 million to shareholders.

GO Chairman, Mr Nizar Bouguila, in his first address to shareholders following Tunisie Telecom’s acquisition of the majority shareholding, highlighted three primary factors which are contributing to GO’s successful trajectory. These will be GO’s game-changing acquisition of a majority stake in Cypriot operator Cablenet, further integration with the Group’s data and ICT subsidiaries BMIT and Kinetix, and the results of the ongoing strategic investment in fibre, which is now available to more than 45,000 homes.

Interim CEO Edmond Brincat also shared information on the growth in customer numbers, which now exceed 533,000 connections. “Of course, technology, customer expectations, and the competitive and regulatory environment, continue to evolve and we must remain focused if we are to continue on this positive trajectory.

“Over recent years, however, it is clear that GO’s leadership team, supported by our employees, have developed a successful strategy, a strategy which I must say has been fully backed by our new majority shareholders. GO can indeed look forward with optimism. We are all part of a great company which is central to Malta’s ongoing development and we are well positioned to face the future.”

No election for the Board of Directors was required as the number of candidates matched the number of seats available.