TNM | Interim results for half year ended 30 June 2009
The Board of the Telekom Networks Malawi Limited is pleased to release the financial results for the half year ended 30 June 2009.
Performance
“Throughout the year to date the company has been unable to access sufficient foreign currency from the market to fully implement its planned capital investment and operational initiatives. In particular roll out of base stations and procurement of handsets were, of necessity, scaled back with a concomitant adverse impact on subscriber growth and revenues.
“In a highly competitive market, the discount below cost of handsets availed to new subscribers was increased to an average of 65% from an originally budgeted level of 30%. This has contributed to a significant increase in operational costs…”
Highlights*
|
MK 3,590 million |
+28% |
|
MK 1,794 million |
+6% |
|
MK 698 million |
-27% |
|
MK 489 million |
-26% |
|
MK 0.05 | |
|
MK 0.02 | |
|
MK 9,459 million |
+55% |
|
MK 6,494 million |
+88% |
* Comparative to interims to 30 June 2008