GO p.l.c. thas reported a pre-tax profit of €34.2 million for its last financial year. The group’s operating profit amounted to €27.8 million, up from €21.8 million in 2014, an increase of 27.9%. A dividend of €0.10 net of tax is being recommended.
" GO continues to connect more clients to its mobile, broadband and TV networks, and this growth more than compensates for the marginal reduction in fixed-voice connections," it said.
"Equally encouraging is the sustained growth in bundled service as the company’s Homepack and Duopack product lines retain their customer appeal. The group also continues to do well in its data centre business and registered encouraging growth in a number of cloud-based services aimed primarily at businesses. As a result, GO delivered robust levels of revenues, profitability and cash generation from its core operations."
The group generated revenue of €123.7 million, an increase of 1.2% over the comparative year.
"This growth more than compensated for the decline in wholesale activity experienced as a result of continued, and disproportionate, regulation at both local and EU level."
GO CEO, Yiannos Michaelides, said, “In December 2015, GO launched Malta’s only fibre-powered 4G network and throughout the year GO continued with the rollout of its game-changing Fibre-to-the-Home (FTTH) network.
"Growth in retail revenue and loyalty from our customers encourage GO to continue to pursue its strategic investments programme to upgrade its networks and launch new technologies. We expect GO’s fibre-powered 4G network to achieve nationwide coverage by the summer and will also continue to extend the reach of our FTTH network as fibre is rolled out in more towns and villages, part of an extensive, multi-year, investment programme. All these investments, as well as other initiatives to modernise our core infrastructure, will ensure that GO customers continue to enjoy the best possible fixed-line and mobile broadband experience through a multitude of devices seamlessly across both fixed and mobile networks.”