Profit rose from P65.8 million to P85.6 million, thanks to cost containment initiatives that enhanced the performance. Expenses fell from P114 million to P97 million.
The six-month period under review was the second year of BTC’s three-year strategy, which is focused on strengthening the core business, optimising efficiencies, increasing returns on assets and pursuing revenue growth opportunities. The business recorded a slight revenue decrease from P 710 million to P 700 million for the six months under review. The group says data revenues growth momentum continued which assisted to compensate for voice revenues that declined because of the impact of the work from home scenarios brought about by the COVID-19 pandemic. EBIDTA grew by 12 percent to P250 million with margin expansion to 35.8 percent reflecting strong operating leverage.
“We are optimistic about the growth potential for data services and therefore we have expanded our customer touchpoints and continue to expand our network capacity and coverage,” BTC MD Anthony Masunga wrote on the financials. Additionally, he said “we have enhanced our broadband packages and reduced pricing to enable customers to work and school at home from anywhere in the country through our wide coverage of mobile and fixed broadband networks”.
The MD said BTC remain committed to offering customers affordable high-speed broadband services, excellent quality of service and access to a broad spectrum of digital services. “We will assist the education sector with e-learning solutions and associated connectivity and content. The company is committed to strengthening the mobile financial service (SMEGA) ecosystem in our quest to contribute to the overall development of the digital economy,” he said adding that “we have expanded our digital offering of cloud-based solutions and managed services as we assist our clients to realise their digital transformation ambitions”. The company said it will continue to drive its digital transformation program with the overall objective of creating sustainable value for all our stakeholders.