GO saw its operating profit increase by 12 per cent in 2017 to reach €29.5 million throughout the year, with earnings before interest, tax depreciation and amortisation rising by 6.5 per cent to €61.6 million.

The telecommunications company generated revenues of €166.3 million last year – a €9.3 million increase over the previous one. The company’s operations in Malta accounted for 81,4 per cent of that revenue (€135.4 million), with its business in Cyprus making up the remaining 18,6 per cent (€31 million).

As well as its Maltese business, the company services 154,000 customer connections in Cyprus through Cablenet.

Administrative costs amounted to €138 million, rising by 4.6 per cent and counterbalancing a 6 per cent increase in sales.

Shareholders were given a rundown of the company’s 2017 performance at its Annual General Meeting on Monday – the company’s 20th AGM – and approved a net dividend of €0.13c per share. This was an increase of 18.2 per cent on 2016 and amounts to a net payment of €13.1 million to shareholders.

GO chairman Mohamed Fadhel Kraiem said the company’s results were the fruit of company leadership and staff.

“Our focus on infrastructure, particularly mobile and fibre, on TV content, and on effective cost management, have continued to deliver an improved performance,” he said.

“Additionally, GO’s investment strategy in recent years, which has brought BMIT, Kinetix and Cypriot operator Cablenet into the Group portfolio, has also made a significant contribution to our profitability and cash generation.”

Company CEO Nikhil Patil said that the company was striving to improve its customer experience, with infrastructure a key component of this.

“We have made significant investments in this regard and have committed a further €100 million investment over the next five years. This investment is already delivering genuine benefits for our customers and is allowing GO to deliver the best mobile, internet, and TV service in the country.”

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