Service provider rakes in $378m
9 August, 2022, 6:00 pm
Vodafone Fiji Pte Ltd Group consolidated revenue increased by 15 per cent to approximately $378 million in the 2022 financial year, states the annual report of the Amalgamated Telecom Holdings Ltd (ATH Group) for the end of the financial year March 31, 2022.
Vodafone Fiji is a subsidiary of ATH and has reported a net profit after tax of $59 million for the 2022 financial year.
“Despite the challenges faced by the company following the second wave of COVID-19 in Fiji, lockdowns, movement of restrictions and declining economic activity, Vodafone Fiji remained focused on its goals and targets for the financial year, states the annual report.
“The company acted swiftly to re-strategise and manage all costs across the business, to ensure that the business remained on a sound financial footing.
“Savings were redirected to new and emerging opportunities, to ensure the business remained agile and flexible and to capitalise on new revenue opportunities.
“While the impact on the business performance has been significant, Vodafone Fiji recorded only a slight decline in net subscribers from the previous year due to sustained focus on customer retention through better value propositions.”
The company had 800,000 subscribers by the end of March 2022.
“Our strategy is to maintain our position as technology leaders in Fiji and the region.
“We have forged strong partnerships and built alliances with strategic technology partners.
“We believe our unique footprint and expansion into the wider Pacific and extensive partnership relationships will provide us with a unique and competitive advantage in driving our digital transformation agenda.”