PAPUA New Guinea (PNG) is shaping up to be a lucrative market for Amalgamated Telecom Holdings (ATH), whose growth in the first six months of its 2026 financial year was driven mainly by its PNG business.
Announcing financials this week for the half year ended December 31, 2025, the telecom conglomerate attributed robust growth to strong performance across its subsidiaries and a rapidly expanding presence in PNG.
“Group revenue increased to $564.1million (+21per cent) compared to the previous corresponding period underpinned by strong performance from Vodafone (Fiji) Group and exceptional momentum in PNG operations, where ATH’s influence continues to expand,” ATH announced on the South Pacific Stock Exchange (SPX).
“Vodafone PNG delivered a standout result, with revenue up 32per cent over the prior period, reflecting the success of ATH’s growth strategy, improved market penetration and increasing brand strength in PNG.”
Financial highlights:
-Net Profit Before Tax: $41.287m, up 85per cent on the same period last year,
-Net Profit After Tax: $28.627m, up from the first six months,
-Group EBIDTA: $171m,
-EBIT: $72m,
-Total Group asset: $1.96billion,
-Net assets: $638m.
“These strong financial base supports continued investment in growth and innovation across the region,” ATH stated.
“As the telecommunications sector evolves with new competitors, regulatory changes and the ongoing monetisation of 5G and fibre, ATH sees clear opportunities to strengthen its market position, particularly in PNG.”
It added it will remain focused on deepening its presence and influence in PNG.
At its Annual General Meeting in October last year, ATH chief executive officer Ivan Fong had revealed that PNG was a big project for the telco, with its customer base now more than the population of Fiji.
“It’s going through its customer acquisition and ramp up phase, so we’ve got a way to go to becoming sustainable but I think the good news is we’ve built 770 towers, we’ve crossed about a million in customers so that’s a very promising work in progress for us,” Mr Fong told this newspaper.
ATH is listed on SPX and is majority owned by the Fiji National Provident Fund.
