BTCL expects higher profits

Better times: BTCL expects improved profits for the year ended March 2024 PIC MORERI SEJAKGOMO
Better times: BTCL expects improved profits for the year ended March 2024 PIC MORERI SEJAKGOMO

The Botswana Telecommunications Corporation Limited (BTCL) expects its pretax profits for the year ended March 2024 to be as much as P55 million higher than the previous reporting period.

In an announcement to investors via the Botswana Stock Exchange (BSE), BTCL directors said pretax profits for the year were expected to be between 32% and 37% higher than the P148.5 million recorded in the year ended March 2023. The results are due to be announced on or before June 30.

The latest announcement gives hope to shareholders that they will receive an improved final dividend from the telecomms firm, above the 2.05 thebe they were awarded in the half year.

While directors did not give reasons for the higher expected profits, BTCL has been enjoying rosier numbers in recent reporting periods, with pretax profits for the half year ended September 2023 rising nearly four times to P93.3 million.

At the time, directors attributed the improved profits to the increase in demand for mobile data services and digital services. The fixed business, although under pressure, also remained resilient in the period under review.

Costs, however, were under pressure during the half year to September 2023 due to an increase in spectrum license fees, repairs to the network driven by continuing copper the incidences and write-off of copper network assets replaced with fibre optic and alternative technologies.

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