AMALGAMATED Telecom Holdings made a net profit of $51,986 million for the year ended March 31 2009.
This was a 19 per cent decline to the net profit of over $64.1m last year.
Company chief executive and Secretary Tomasi Vakatora said competition in the mobile sector has caused decrease in sales margins.
"Consolidated Sales revenue increased due mainly to our mobile business. Competition in that sector from October 1 2008 however has caused decrease in sales margins.
"Decline in consumer spending was experienced especially in the last quarter of the financial year. This was due to a combination of the flow effects of the global financial crisis sand relatively weak trading conditions in the domestic economy due to effect of flooding in January 2009".
The full year financial report stated that it was a draft audited accounts and is subject to adoption by the board of directors.
The report stated that profit margin decreased overall due to increase in direct costs.
The group's sales revenue increased by 5.4 per from $269.5m last year to $284.2m this year.
Companies that come under ATH include Telecom Fiji Limited, Vodafone Fiji Limited, Fiji Directories Limited, Internet Services Fiji Limited (Connect), Transtel Limited and Xceed Pasifika Limited.
