Report: Growth remains a challenge

Telecom Fiji users enjoy buffer-free Pubg, Fortnite, League of Legends, and many more of their favorite online games. Picture: TELECOM FIJI

Telecom Fiji Pte Ltd recorded a revenue of $85 million and a net profit after tax of $20 million in its 2022 financial year, states the annual report of the Amalgamated Telecom Holdings Ltd (ATH Group) for the end of financial year March 31, 2022.

Telecom Fiji Pte Ltd is a subsidiary of ATH, which owns 100 per cent shares in TFL.

“Growth remains a challenge for Telecom due to a declining trend in traditional voice revenue and also the effects of COVID-19, which impacted the financial performance with rebates requested by our corporate customers for cost-cutting measures,” states the annual report.

“Our focus on delivery and execution of our strategic objectives ensured our ability to adapt and respond to such impacts of the pandemic on our business.

“Our operating revenues decreased by 6.5 per cent for the full financial year due to market competition on data and internet pricing.

“Overhead expenses were maintained to similar levels as the previous financial year, driven by cost optimisation and rationalisation during the COVID pandemic period.

“Telecom Fiji will continue to implement new ICT initiatives while exploring opportunities to serve and support various customer segments across the nation, leveraging its high-performing employees and essential telecommunications infrastructure to keep Fijians connected wherever they may be.

“The company is also strongly focused on digital transformation, with the aim of achieving greater operational efficiency and customer engagement through its digital initiatives.” |

More Stories