Digicel reports 10% increase in half-year profit

Mobile operator Digicel has today reported a 10% increase in its half-year profit to US$364 m (€408m) on revenues of US$857m (€960.9m).

Digicel has grown its subscriber base by 7% in the past 12 months to 7.3 million, and in its most recent quarter to September 30, 2009 added 98,000 subscribers.

Colm Delves, Digicel Group CEO, commented: “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 as customers continue to prefer the better value offered by Digicel’s bigger, better network.”

Digicel’s revenues for the six months to September 30 were US$857m (€960.9m), growing 3% in constant currency terms. Digicel’s EBITDA margin for the most recent quarter was 44%, the fifth successive quarter it has been at or over 40%.

Colm Delves added: “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.”