FIJIAN telecommunications service provider Telecom Fiji Ltd continued its strong growth in the internet and data arena despite the fierce competition in Fiji.
A subsidiary of Amalgamated Telecom Holdings Ltd, Telecom Fiji Ltd recorded another year of remarkable improvement with net profit of $20.71 million for the year.
In its 2016 annual report, ATH noted that the result represented year-on-year improvement in profitability of 12 per cent, with the operating results being further accentuated after taking into account the previous year’s results also included $11.6m gain on sale of assets.
It said in order to accommodate the surging demand for data and broadband internet services, the company drove on with public Connect Wi-Fi hot spots.
With about 200 hot spots around the cities, towns and other major centres deployed so far, this is the largest wi-fi network in the country.
Another successful subsidiary of ATH, Vodafone Fiji Ltd also delivered another all-round solid performance for the year despite the disruptions and challenges brought on by Severe TC Winston.
In its annual report, ATH said Vodafone continued to hold its position as the market leader in a mature mobile market with more than 120 per cent mobile penetration. It said Vodafone’s revenue for the year 2016 stood at $260m, growing 18 per cent from $220m in the last financial period, with 6 per cent of this growth a result of the acquisition and turnaround of Datec (Fiji) Ltd.
According to the report, Vodafone Fiji’s product portfolio, voice and SMS revenues continued to be challenged because of over the top apps such as Viber, Whatsapp and Facebook messenger.
However, it said this was offset by the revenues from internet, data growth and strategies implemented to drive smart device penetration and mobile internet.
Meanwhile, ATH’s third subsidiary, FINTEL recorded an operating profit $8.8m compared with $7m for the same period last year.
FINTEL also noted an increase in its total turnover for the year with the total turnover for the year standing at $16.7m compared with $15m last year.
According to ATH, the positive growth is forecasted to continue with the interconnection of proposed Pacific Island cable systems, associated value added services and the demand for international broadband.
ATH general manager Ivan Fong said FINTEL was now moving ahead with implementing the planned landing of the Tui Samoa cable that would connect Samoa to Fiji.
“This project will be brought online in 2017, delivering an additional boost to the company’s service and revenues.
“More importantly, the cable further reinforces Fiji’s position as a regional telecommunications and economic hub for the Pacific,” he said.
