Telecommunications company Go may shelve its investment in a fibre-to-home network for TV and internet unless EU regulations allowing competitors to use it at a low price are not changed, said chief executive officer Yiannos Michaelides.

“It just doesn’t make sense that our competitors will be able to use our network, our investment, so cheaply,” he said.

“So we will be making our voice heard, but unless regulations change we will not invest in this project anymore. We will continue extending the trial period, which at the moment is in the Sliema area.”

He was speaking during a meeting the company organised for stockbrokers, which gave a detailed overview of Go’s interim results for the first six months of 2013.

Go made a profit of €8.3 million before tax, down from €20.4 million in 2012, which had reflected an exceptional gain of €11.4 million attributable to the sale of a plot of land in Qawra to the Government.

The firm’s operating profit fell by €2 million to of €9.4 million.

Mr Michaelides spoke about the company’s plans for the near future, which include a new portal by the end of the year as well as initiatives to make Go an e-company, focusing more on the electronic aspect to improve customer relationships.

He said the firm had revamped its mobile portfolio, launching the ‘Limitless’ platform and linking it to products such as the Home Pack.