BTC dolls up for privatisation

For the year ended 31 March 2011, the BTC group - which consists of the wholly-owned BTC, Botsnet and beMOBILE subsidiaries - reported that its turnover reached P1.07 billion from P958 million in the previous year, leading to a 25 percent rise in profits to P227 million for the period. In a statement accompanying the results, the group - which provides fixed and mobile voice telephony, Internet wholesaling and data services - says the company did not only manage to boost its sales heavily in the period, but has also cleared its debts that amounted to P53 million last year.

"Over the past year, the corporation has made significant progress to create one BTC - a single, focused and integrated company geared towards sustainable profitability," the statement says. "Strict financial discipline, focused execution of plans and resolute pursuit of strategic intents have guided BTC in this endeavour.