Digicel makes net loss of US$198m in 2013

(Jamaica Gleaner) Digicel Group made a net loss of US$198 million last year, as disclosed by Fitch ratings agency in its most recent report on the telecom.

Fitch gave Digicel a stable B rating on its long-term foreign currency debt and said the outlook for the company was stable.

Digicel finances its capital programmes through debt, including bond issues.

Fitch said Digicel made a loss of US$198.491 million – the equivalent of J$20 billion – at its financial year ending March 31, 2013.

The telecom, which does not publicly disclose its financial performance, declined to comment on the matter.

“Digicel is a privately held company. We do not publish our financial results nor do we comment on media reports about our financial results,” said head of group public relations Antonia Graham.

The loss was the first since 2010, when the company bled US$131.679 million. Chairman and founder Denis O’Brien has previously confirmed that he is currently seeking a special dividend from the company, which reports have put at US$650 million.



Join the Conversation

After you comment, click Post. If you're not already logged in you will be asked to log in or register.

The Comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit/delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity. We moderate ALL comments, so your comment will not be published until it has been reviewed by a moderator.

More Regional News »