BTC Grows Revenue By 1% In 6 Months

In its financial results for the 6 months ended 30 September 2024, BTC managed to grow its revenues by 1% to P722 million from P717 million, continuing a trend which has seen the telco struggle with topline growth over the last few years. In August, the company abruptly parted ways with former managing director Anthony Masunga.

The revenue growth came from the telco's growth in mobile prepaid data, financial services, and data centre services which hedged against a decline in revenues in legacy segments like fixed network and mobile voice revenues.  BTC says it intends to double down on these segments going forward to unlock more growth.

"Consumer preference is shifting towards mobility and flexible access to data and mobile financial services, which is expected to drive further growth. The rising focus on data protection is expected to drive demand for BTC‘s data centre cloud services," the company told shareholders.

BTC fared much better in its bottom line, with profit before tax increasing by 57% from P71 million to P112 million. The company attributed this to a 20% decrease in costs driven mainly by unspecified operational efficiencies.

Following the release of the results, BTC has declared a 4 thebe per share dividend to shareholders.

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