30 November - 6 December 2000

Maltacom posts Lm7.7m profit in nine months

by Franco Aloisio

Maltacom plc yesterday announ-ced a Lm7.7m post-tax profit for the first nine months of this year. The group’s turnover increased by 7.6 per cent to Lm35.2m mainly as a result of increase in revenue from line rentals (13 per cent), mobile interconnection (59 per cent), and internet and internet-related services (103.6 per cent).
Domestic traffic volume went up by 3.3 per cent, while domestic and international mobile interconnection traffic increased by 66.7 per cent and 51.7 per cent respectively.
Commenting on these results, chairman Maurice Zarb Adami said: “The trend that was evidenced by the group’s interim results as published last August, has been maintained. The continued improvement in both quality and the diversification of our services and products contributed substantially to the excellent results achieved.”
Maltacom is continuously restructuring itself and next week a cooperative of Maltacom employees will be set up to take over aspects of the company’s business such as the maintenance of telephone booths and telecards operations. Other workers have been utilised by Datatrak for the installation of its systems on vehicles.
Maltacom’s CEO Stephen Muscat said the latest figures confirm the group’s growth and the commitment to continue improving further.
Asked whether the setting up of new subsidiaries such as Mobisle Communications – which operates the Go Mobile service – reduced the group’s profits margins, Maltacom’s Group finance director Edgar Borg said the investments made this last year will pay off in the coming years.
Maltacom’s chairman yesterday announced reductions in the cost of international calls for Christmas Day and Boxing Day. Calls made to European countries and North Africa will be charged at 15c a minute, inclusive of VAT. Calls made to the US, Australia, Canada and the Middle East will cost 25c.