Grameenphone profits down after tax hike

Thursday 18 July 2013 | 18:59 CET | News
Bangladeshi mobile operator Grameenphone reported net profit for the first half of 2013 down to BDT 5.1 billion from BDT 9.7 billion a year earlier. The sharp drop was mainly due to the higher corporate tax imposed on listed mobile companies and increased marketing, partly offset by lower subscriber acquisition costs. The EBITDA margin was 49.5 percent, down by 3.8 percentage points compared to the first half of 2012, while revenues totaled BDT 47.4 billion, a 2.2 percent increase from a year earlier. GP said it managed to deliver growth amid intense market competition, political unrest and

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Categories: Mobile & Wireless
Companies: GrameenPhone
Countries: Bangladesh
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