Digicel Group increases first half profit by 10 per cent

“These results demonstrate a strong start to the financial year with Digicel increasing profits and subscribers even in a tough economic climate. Despite increased competition, Digicel is winning market share,” said Digicel Group CEO Colm Delves.(File pho

KINGSTON, Jamaica, November 19, 2009 – Mobile operator  Digicel has reported a 10 per cent increase in its half year profit to US$364 million from operations in its 24 markets in the Caribbean and El Salvador.
 
The company said it has grown its subscriber base by seven per cent in the past year to 7.3 million, and in its most recent quarter ending September 30th, added 98,000 subscribers.
 
“These results demonstrate a strong start to the financial year with Digicel increasing profits and subscribers even in a tough economic climate. Despite increased competition, Digicel is winning market share,” said Digicel Group CEO Colm Delves.

“We have demonstrated that with disciplined cost control and relentless focus on giving customers what they want, companies can continue to thrive even in challenging times.”
 
Digicel recorded revenue for the six month period, ending September 30th, was US$857 million.

Two weeks ago, Cable and Wireless reported a 10 per cent drop in revenues from its LIME operations, but said despite the reduced revenue of US$427 million, it still had a total operating profit of US$53 million and had maintained mobile market leadership and grown its mobile and broadband customer bases in the region.