GO will continue to invest millions every year to keep delivering the best technologies, company chairman Mohamed Fadhel Kraiem has told the company's annual general meeting.
He said the company's performance last year, notably a 12 per cent rise in its operating profit, strengthened the company’s resolve to achieve stronger results and return on investment.
“This year’s results and focused strategy confirm GO’s commitment to remain a major player in the growth of Malta’s economy. We recognise GO’s important role in Maltese society not only as a major contributor to economic development but also to ensure Malta’s connection to the rest of the world. Over the past 10 years, we have invested over €240 million and will continue to invest millions more every year to keep delivering the best technologies in the coming years.”
The company last year had an operating profit of €33.1 million. A dividend of €0.14 per share, an increase of 7.7% over 2017 was recommended by the directors and approved by the shareholders.
“For the past year we have focused heavily on three main areas: adding value to our customers’ lives, developing a learning organization and delivering returns to our shareholders, and I am very proud of my team as we continue to make great progress on all fronts. Our considerable investment in our networks and our people, and innovation in our products and services has driven a very positive performance during 2018. Our aim is to ensure long term sustainability while finding opportunities to provide greater returns to our shareholders,” said Nikhil Patil, Chief Executive.
“GO continued to deliver a strong performance from its core operations, coupled with impressive growth from our data and ICT services through BMIT and Kinetix. Our Cypriot subsidiary, Cablenet, has also proved to be a key contributor to the overall growth. Today, 19% of Group revenue is derived from Cablenet. Cablenet delivered a revenue growth of 8% and an EBITDA growth of 10.5%,” continued Nikhil Patil.
GO Annual Report and Financial Statements are available online at www.go.com.mt