GP posts Taka 128bn revenue in 2017 | 2018-01-30 |

GP posts Taka 128bn revenue in 2017

Sun Online Desk     30th January, 2018 07:32:08 printer

GP posts Taka 128bn revenue in 2017

Leading mobile phone operator Grameenphone reported revenue of Taka 128.4 billion for 2017, up 11.8 percent from the previous year's. 


Data revenue grew by 46.4 percent while voice revenue grew by 9.5 percent, which triggered the growth in the year.


"In 2017, we delivered a strong business performance amidst a very competitive environment and we were able to achieve this through focus on the strategic ambitions outlined and solid execution in the market," said Grameenphone Chief Executive Officer (CEO) Michael Patrick Foley while revealing the financial result through an official release Tuesday. 


During the fourth quarter of 2017, the total revenue grew by 8 percent.


Grameenphone acquired 7.4 million new subscribers during the year, registering a 12.7 percent growth. 


The company also acquired 6.6 million internet users. With this, 47.7 percent of the total subscribers are using Grameenphone internet services. 


Net profit after taxes for 2017 was Taka 27.4 billion. Higher revenue and operating efficiency contributed to EBITDA (before other items) was Taka 76.2 billion. The earning per share (EPS) for the year was Taka 20.31.


"Our operational efficiency initiatives helped us improve our profitability further," said Karl Erik Broten, CFO of Grameenphone. 


"We are also happy to announce that the Board of Directors has recommended a final dividend of BDT 10 per share for our honorable shareholders," he added.


The Board of Directors of Grameenphone have recommended Taka 20.5 per share for the full year 2017 dividend based on the decision taken at the Board Meeting. 


With this, the total cash dividend stands at 205 percent of paid up capital which represents 101 percent of Profit after Tax for the year 2017 (including 105 percent interim cash dividend).