ATH records $96.6m profit

AMALGAMATED Telecom Holdings Ltd (ATH) group released its audited financial statements for the year ended 31 March, 2018 yesterday showing a group after tax profits of $96.6 million (2017 $85.2m) during the year.

The holding company meanwhile, recorded an after tax profit of $42.6m against $42.7m recorded in 2017 which represented a decrease of around $100k for the holding company.

Based on the positive performance ATH and its subsidiaries the company’s basic and diluted earnings per share increased from $0.12 in 2017 to $0.15 as at 31 March, 2018.

The group net assets increased by 19 per cent to $348.3m during the year from $292.4m recorded in 2017 while the holding company registered an increase in net assets of nine per cent from $246.3m in 2017 to $269.9m as at 31 March, 2018.

Interim dividends of In the case of the company’s dividend payments the directors’ report stated that interim dividends of $10,5m and final dividends of $8.4m were provided by the holding company during the year ended 31 March 2018 (2017: interim dividends of $8.4m were paid and final dividends of $16.8m were provided).