Digicel revenue jumps by 12%

DIGICEL, the mobile operator chaired by Denis O’Brien, saw revenues jump 12% to $2.2 billion (€1.8bn) for the year to the end of March 2010.

This represents a compound annual growth rate of 24% from 2007 to 2010 when all Digicel markets are included, according to the company.

It said subscribers in the year were up 15%, to 10.8 million, across 32 markets, led by growth in the Central American and Pacific markets.

Digicel Group CEO Colm Delves said: “It’s been another great year for Digicel. Our promise and commitment to our customers to deliver best value, best service and best network is continuing to translate into sustained growth and strong performance, resulting in us once again over-delivering against all of our internal targets.

“I would like to thank our customers for their ongoing loyalty to Digicel.

“In addition, I would like to thank our fantastic staff for their continued great work, commitment and enthusiasm – they are the bedrock of our success.”

In the year, Digicel raised $1.8bn on the international bond markets, the proceeds of which were used to acquire Digicel Pacific and refinance existing debt, as well as for general corporate purposes.

It also launched the first-ever mobile service in Nauru, Digicel’s sixth market in the Pacific and 32nd worldwide.

In the coming year, Digicel will launch WiMAX services in Jamaica.

The company has donated over $20 million to support the relief efforts in Haiti as well as undertaking a number of humanitarian initiatives.

Chairman O’Brien was named Goodwill Ambassador to the city of Port-au-Prince in Haiti by the mayor of the city in recognition of his efforts.