Amalgamated Telecom Holdings Ltd (ATH) and its group companies has recorded an interim and unaudited consolidated profit after income tax of $28.04million.
This represents a 7 per cent increase when compared to $26.17m recorded for the corresponding period.
In its half year result ending September 30, 2020 – as reported in a market announcement released by the South Pacific Stock Exchange (SPX) yesterday, the ATH stated that despite the adverse consequences of COVID-19, the group had made good progress and this period’s results had been achieved.
Sales revenue for the Group recorded a decrease of 7 per cent – $314.4m compared to $339.48m recorded for the corresponding period last year.
“The Group revenue is attributed to the adverse impact of the COVID-19 pandemic causing economic downturn globally resulting in a considerable slowdown in certain aspects of the Group’s operation,” the company stated.
