Digicel increases subscribers by seven per cent

(CNS): Regional telecommunications company Digicel has announced further growth with it financial results for the quarter ended 31 December 31 2010. The firm stated that subscriptions were up 7% year on year to 11.5 million across the markets in which Digicel offers service. The firm said revenues were up 32% to US$580 million. EBITDA (earnings before interest, taxes, depreciation and amortisation) was up 32% year on year and reached what the firm said was a record high of over US$240 million. “I am pleased to report that we have had another very strong quarter,” said Digicel Group CEO, Colm Delves.

“Digicel has outperformed its industry peers with strong revenue growth and robust margins. We remain committed to ensuring our customers benefit from best value, service and network – and in our ongoing efforts to give back to our communities,” he added.

The firm said that key achievements in the quarter included the launch of mobile money services in Haiti under the “Tcho Tcho” Mobile brand and the award of the “first to market” grant of US$2.5 million from the Bill & Melinda Gates Foundation and the successful launch of 3G+ service in the French West Indies. Digicel also issued US$300 million of senior notes the proceeds of which are to be used for general corporate purposes. It also acquired two ICT businesses – Netxar in the Caribbean and Datanets in Papua New Guinea – to further expand Digicel ICT expertise and capabilities. Meanwhile in Jamaica the firm broke ground on the new Digicel global headquarters in downtown Kingston as well as completing renovations of the central point of trade, the Coronation Market, also in downtown Kingston.