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Manx Telecom made good progress in 2018

Financial results News - Published on Thu, 14 Mar 2019

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Manx Telecom Plc, primary provider of broadband and telecommunications on the Isle of Man, made good progress in 2018 with its strategy of strengthening its on-Island telecoms business, while investing for growth in its international business, Vannin Ventures. Manx Telecom CEO, Mr Gary Lamb, said “2018 was another year of robust performance for Manx Telecom. Thanks to the hard work of our people, our on-Island telecoms business has remained stable – with a solid performance in fixed line, broadband and data services, and growth in mobile – while our international growth business, Vannin Ventures, has seen growth in Global Solutions and has put down strong foundations for the future. Goshawk Communications has made good progress, not least with our recently branded UK proposition, called ‘Audacious’ which uses the same innovative technology behind our MT clearSound product. We remain positive in the outlook for the Group due to the solid underlying revenue, EBITDA and cash flow performance during the year, and are continuing to explore potential growth opportunities with the aim of identifying new products and services for a global audience.”

Manx Telecom Chairman, Kevin Walsh, said the company had presented a ‘solid set of full year results for 2018’ which demonstrated a ‘stable trading performance’. He added that the company’s strategic focus would continue to be on defending its core market position here on the Island by delivering high-quality customer service, while also seeking off-Island growth, through Vannin Ventures, by identifying and developing innovative new products and services.

In addition to the launch of MT clearSound (which was a world first in the field of mobile technology) another 2018 operational highlight was progress with the ongoing roll-out of Fibre to the Premises (FTTP) with over 10% of the Island’s premises passed by the end of last year. There has been a 13.5% take up of the service to date.

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Posted By : TelecomGuru on Thu, 14 Mar 2019
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