74 F
Belize City
Wednesday, January 19, 2022
Home Headline BTL’s profit declines by $5.5 million!

BTL’s profit declines by $5.5 million!

BTL profits down 20%!

Belize Telemedia Limited (BTL), the government-owned telecommunications company, plans to host its 7th Annual General Meeting at 7:00 p.m. on Thursday, September 26, 2013, at the Best Western Belize Biltmore Plaza Hotel in Belize City, when it plans to also declare dividends to shareholders, according to company director Anwar Barrow.

Barrow, who last served as director of BTL in 2011 but who was recently assigned to BTL’s Executive Committee, told Amandala that during the 2012/2013 year the company faced a mix of successes and challenges as they worked to prepare the company to deal with a changing telecoms landscape.

BTL customers have been wondering whether the company has discontinued its triple-up offerings. We made a query with a company rep who told us that the offer had been only temporarily discontinued, pending system changes – but should be resumed shortly.

Amandala has learned that during the financial year BTL’s profits plummeted by 20% from the previous financial year’s figures: from $26.5 million to $21 million. (This is according to audited financials prepared by PKF Belize, Chartered Accountants.)

The financial statement indicates that revenues were also down from $139 million to $136 million.

Consequently, earnings per share were down from 53 cents a share to 42 cents a share.

Barrow was optimistic, though, that BTL would—despite the liberalization of VoIP earlier this year—expand and generate additional revenues. He said that looking forward, BTL will be shifting more towards data and associated services.

He also indicated that BTL is also looking at ancillary services which the company can offer to complement and build on its existing infrastructure.

- Advertisment -

Most Popular

Mandatory US$18 travel insurance for tourists

BELIZE CITY, Mon. Jan. 17, 2022-- The Belize Tourism Board (BTB) announced a new travel insurance mandate last Thursday in a press release. The...

Legal Year 2022 commences 

BELIZE CITY, Mon. Jan. 17, 2022-- The opening of the new legal year 2022-2023 took place this morning with a virtual commencement exercise coordinated...

PUC extends deadline for comments on electricity rate increase 

BELIZE CITY, Mon. Jan. 17, 2022-- On Friday, the Public Utilities Commission (PUC) extended the deadline for public consultation on the proposed electricity rate...

Customs officer, 43, dies in RTA

BELIZE CITY, Mon. Jan. 17, 2022-- A Belize City man lost his life in a traffic accident that occurred on the George Price Highway...