BTL Reports Profit of $22.1M at AGM 2015/2016

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Updated: September 30, 2016

A profit of twenty two point one millions dollars was reported during Belize Telemedia Limited Annual General Meeting last night. According to the report, this is a four million dollar increase when compared to last year. According to the Chairman of BTL’s Executive Committee, Anwar Barrow, the fiscal year was ended with record operating revenues of one hundred and fifty seven point one million dollars and profits of twenty two point one million dollars, an increase of twenty seven percent from 2015. Barrow said that twenty five thousand customers were recruited to join the BTL family.

One of the key points made last night was that BTL is now hundred percent owned by the Belizean public. The Government  owns sixty three percent, Social Security Board has twenty percent shares while the Belize Central Bank and small shareholders hold eight and nine percent of the company respectively. During his presentation, Barrow explained to shareholders that in the next three years, profit would be stagnant because BTL will be investing approximately one hundred million dollars.