GO has reported stable revenue but improved profitability for the six months ended June 30, as it achieved revenue of €60.7 million and an operating profit of €13.7 million, €4 million more than in the same period last year.

In a notice on the Malta Stock Exchange, it said this was due to various successful initiatives aimed at growing retail revenues and reducing costs.

The group’s revenue was €100,000 less than in the same period last year due to a marginal decline in revenue from the telecommunications business.

This, it said, was compensated by growth in the data centre business.

GO CEO Yiannos Michaelides said the strategy GO was pursuing was the right one.

"Our ability to satisfy all the telecommunication needs of households and businesses remains key to our success. Our straightforward limitless propositions, which we have further improved in 2015, will continue to be popular with customers and drive growth.

"At the same time, GO will later this year launch 4G and continue to invest in fibre-to-the-home.

"GO will also continue to invest in its leading data centre business. These investments, together with the ongoing review of processes aimed at improving service to customers and improved cost management have also contributed significantly to delivering this excellent result.

"Despite the fierce competition, regulatory pressures, and the systemic declines in some areas of our business such as fixed telephony, GO has continued to perform exceptionally well and for this I must thank our employees for all their hard work and our customers for their loyalty," Mr Michaelides said.