Digicel reports 39% subscriber growth

KINGSTON, Jamaica, June 26, 2008 – Telecommunications operator Digicel has reported a 39 per cent increase in Caribbean and Latin American subscribers over the past year.

According to a release issued by the company, it ended the fiscal year on March 31, 2008 with 6,540,000 customers, representing “sustained growth in existing markets while increasing mobile penetration growth rates in new markets”.

In November last year, the company launched operations in Suriname and has reported that it “gained market share of 30 per cent in just seven months”.

Digicel said it would further expand later this year with a pending launch in the British Virgin Islands. Digicel Central America Holdings, a sister company to Digicel Group, will also launch in Honduras and Panama, expanding Digicel’s GSM network to 26 markets. 

“We are very excited about our ability to sustain growth opportunities in existing markets while picking up momentum in new ones,” said Digicel Group Chief Executive Officer, Colm Delves. “We’ve had one of our most successful financial years to date.” 

The company said its investment in the Caribbean and the Central American region exceeds US$2 billion and that it directly employs more than 4,000 people.

Digicel, which is incorporated in Bermuda, currently operates in Anguilla, Antigua and Barbuda, Aruba, Barbados, Bermuda, Bonaire, Curaçao, The Cayman Islands, Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Suriname Trinidad and Tobago and Turks and Caicos.