Digicel revenues up 27%

(Trinidad Express) Irish mobile phone services provider Digicel Group Ltd has shown what it calls robust growth in its financial performance for its year ended March 31, 2011.

“With subscribers up six to 11.5 million across all 32 markets, revenues for Digicel Group Ltd were up 27 per cent to US$2.23 billion,” the company said in a statement.

Ten-year-old Digicel Group has more than 11 million customers in the Caribbean, Central America and the Pacific.

It offers cell phone services in Trinidad and Tobago, Barbados and Jamaica among other countries in the region.

Digicel’s balance sheet and liquidity position have continued to improve with cash reserves of over US$600 million at March 31, the company said in its financial results statement.

Commenting on the performance, Digicel Group chief executive Colm Delves, said: “It’s been another successful year for Digicel as we continue to grow our business, introduce innovative new technologies to our customers and deliver on our commitments to providing best value, best service and best network. We have successfully integrated our Caribbean and Pacific operations and expanded our capabilities in the business solutions area and have driven growth in our Caribbean and Pacific markets—especially in Haiti and Papua New Guinea.”

Digicel’s investment across its 32 markets worldwide totals US$4.5 billion and the company employs over 5,500 people worldwide.

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