BSS-17 GP’s 49.9pc subscribers use internet

ZCZC

BSS-17

GP-GROWTH-REVENUE

GP’s 49.9pc subscribers use internet

DHAKA, July 16, 2018 (BSS) – Grameenphone (GP) ended the first half of 2018 with 69.2 million active subscribers, registering a 5.9 percent growth from last year end while 49.9 percent of its total subscribers are using mobile internet.

During the period, GP reported revenue of Taka 63.8 billion, up 1.2 percent from the same period of last year. Data revenue grew by 21.1 percent along with voice revenue growth of 2.4 percent.

“First half of 2018 was challenging due to adverse effect from bad weather and ongoing competition intensity. Despite this we were able to report healthy growth and margins”, Grameenphone CEO Michael Patrick Foley said in a media statement.

He said, “We crossed the 2 million 4G subscriber milestone and our network rollout and modernization plan is on track to deliver superior customer experience,” adding, “Our consolidated voice and competitive data offers are creating positive traction in the market.”

Net profit after taxes for the first half was Taka 17.2 billion with 26.9 percent margin. Earnings per share (EPS) in the period were Taka 12.74.

“GP reported healthy EBITDA uplift and margin during the period. Amidst the challenges, we were able to end the 1st half of 2018 in a positive note”, said Karl Erik Broten, CFO of Grameenphone.

He added, “I am also happy to announce that Grameenphone Board of Directors declared interim dividend at the rate of 125 percent of paid up capital.”

BSS/PR/MAK/BR/1645