By RACHNA LAL
The interim and unaudited consolidated net profit after tax of Amalgamated Telecom Holdings Limited (ATH) and its group of companies has gone up by $6.1 million for the half year ended September 30, 2013.
The group recorded post tax profit of $19.6 million during this six-month period compared to $13.5 million for the corresponding period the past year.
The announcement was made through a statement released by the South Pacific Stock Exchange yesterday.
The statement said consolidated net profit after tax and minority interest for the half year was $8.6 million.
“This represents an 88 per cent increase in net profit after tax and minority interest in comparison to the corresponding period last year,” it said.
An interim and unaudited consolidated net profit after tax and minority interest for the corresponding period the past year was $4.6 million.
This improved performance was largely attributed to an increase in sales revenue by $4.3 million and a $2.1 million decrease in expenses across the group for the six months reported.
ATH said the result was encouraging for the companies in the group.
“Together with the ongoing improvements continuing across the group, the results are expected to improve further over the next half year,” it said.