the monitor

Bofinet posts P12m pretax profit

BOFINET office
BOFINET office

BoFiNet, the country’s wholesale telecoms infrastructure provider, has posted a pretax profit for the year ended March 31, 2024, an improvement from the loss it recorded in the previous year.

On the other hand, its total revenue grew marginally by one percent to P485 million, while operating profit nearly doubled, supported by cost containment measures and new project rollouts.

The parastatal recorded a pretax profit of P12 million during the reporting period, which was better than the P7 million loss it made in the full year 2023.

Editor's Comment
Warm relations must not come at the expense of fair trade

“I believe that free but fair trade isan absolute imperative”– John E. JamesFor two countries bound by geography, history and deep economic ties, periods of diplomatic strain serve neither side well. President Duma Boko’s efforts to restore momentum to relations with Pretoria deserve recognition, particularly at a time when Southern Africa faces shared challenges ranging from sluggish economic growth and unemployment to energy security...

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