Grameenphone Ltd has reported earnings of Tk51.5 bn in the first half of 2015, up 0.7% from the same period last year, according to a statement yesterday.
The Board of Directors has declared 80% interim cash dividend for the year 2015 out of the provisional net profit of the company for the half year ended on June 30 this year and retained earnings up to December 31, 2014.
This dividend represents 103% of the after tax profit for the half year ended on June 30, 2015. The record date for the interim dividend has set on July 29, 2015.
During this first half of 2015, GP acquired 1.6 million new subscriptions, taking the year-end subscription base to 53.1 million. This constitutes 7.9% subscription growth (YoY) with SIM market share of 41.9% (as of May). Data subscriber now stands at 13.4m with encouraging growth in terms of volume.
“We experienced marginal growth from last year with initial setback from intense price competition and political turmoil during 1st quarter of 2105. As hinted last time, we are actually observing gradual recovery from end of 1st quarter with our simplification initiatives in improving usability experience and network superiority,” said Rajeev Sethi, CEO of GP.
He added: “I am happy to announce that the GP board declared interim dividend at a rate of 80% of face value. It reflects GP’s commitment towards creating value for its shareholders.”
“We managed to secure profitable growth amidst the muted top line performance during the period. We are hopeful that our focus on granular level approach towards operations will add more value to the business going forward,” said Dilip Pal, CFO of GP.
