The second wave of COVID-19 had a greater impact on the telecommunications sector because of the more severe resultant economic downturn.
In their 2021 audited financial statements released yesterday, the Amalgamated Telecom Holdings Ltd (ATH) said the holding company recorded $14.6 million in profit in 2021 compared with $14.3m for the same period in 2020.
The group directors noted that in terms of financial impact to the group, the pandemic had caused loss in revenue for some of the group entities, however, the diversified revenue base of the group had allowed the group to cushion the impacts to some extent.
According to the group’s financial statement the group entities, particularly, Vodafone Fiji Pte Ltd and Telecom Fiji Pte Ltd have been working with the relevant authorities to combat the rising health, economic and social implications due to this second wave.
The group also noted its confidence that the products offered by the group entities, including the M-PAiSA platform, Vitikart app, the heavily discounted smartphones and continuing efforts to provide affordable and quality telecommunication services would help people keep in touch with each other during these difficult times.
It was highlighted that robust, functioning telecommunications networks and services is a critical element in assisting Fiji and Fijians to bring this outbreak under control and would be an essential element in re-establishing a new normal.
The group noted that the pandemic had caused an increase in demand for data from users here and abroad, adding that it continued to invest in innovative technologies to enhance the customer experiences.
