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BTC FY pretax profits drops 15% to BWP 197 mln

Thursday 11 July 2019 | 09:46 CET | News

Botswanan operator BTC's pretax profit decreased by 15 percent to BWP 196.7 million for the financial year ended 31 March from a year earlier. The board said it expects the group's "significant" investments in its network in the past few years to monetise this year. It said margins had come under pressure from restrained consumer spend.

This had resulted in a 12 percent decline in the mobile business, despite the introduction of new products and services in the market and other initiatives to promote uptake. BTC said the completion of the fixed and mobile broadband network has positioned BTC as the best and widest data network in the country, offering fast mobile and fixed internet.

BTC has blamed its share volatility on the high concentration of retail investors in the company's register, saying these tended towards impulse trading as opposed to institutional investors. 


 



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Categories: General
Companies: BTC
Countries: Botswana
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