The GO Group said today that it made a pre-tax profit of €20.3 million last year, compared to €15.6 million in the year before.

It said operating profit rose from €18.0 million in 2013 to €21.8 million in 2014, an increase of 21.0%. However both years included items considered to be of unusual nature, size or incidence. 

Normalised operating Group profit for the year ended 31, December 2014 amounted to €24.3 million (2013: €20.8 million) whilst normalised EBITDA amounted to €49.2 million (2013: €48.4 million).

In the year under review GO is reporting a profit before tax of €20.3 million (2013:€15.6 million). The earnings per share amounted to €0.144 as against €0.116 in 2013.

It said the growth in profitability was the result of stable revenues and lower costs.

The Group achieved positive results in revenue generation. Although at €122.3 million Group revenues were at the same level of those achieved in the comparative year, the Group managed to grow revenue from retail activities which growth made up for the decline in income from wholesale activities, a direct consequence of regulatory intervention. Whilst retail revenue from legacy fixed voice service continued to decline, GO experienced growth in all other retail sectors, particularly mobile.

The Board of Directors has recommended a final net dividend of €0.07 net of tax per share. The payment of this Net Dividend amounts to €7,091,734. The final dividend will be paid on the 8 May 2015 to all shareholders who are on the shareholders’ register as at Thursday April 2,2015.