The Belize Telemedia Limited is blossoming financially; that is according to the Chief Financial Officer, Ivan Tesucum. The company held a press conference last night at their offices on Regent Street in Belize City where they boasted of the millions made this last financial year. Tesucum noted that BTL is continuing to advance its services and has recently introduced various new and innovative ideas resulting in the company’s highest surplus of revenue.
Chief Financial Officer, Ivan Tesucum: “This year for BTL was a record year. Yes, a record year in gross revenue as we hit the largest revenues for BTL ever in history at $159 million. That was a growth of 2.1 million or 1.3% increase, coupled with strong and continued operational cash flows of $ 71.5 million as its measured by the BIPDA, our earnings before taxes, depreciation and amortization which shows how strong the company generates its cash.”
Tesucum also expressed the yearly accomplishments of the company and stated that mobile, broadband, and a financial package of sixty five million towards their Diginet services were the contributing factors for the company’s surplus.
Chief Financial Officer, Ivan Tesucum: “One area that we look at is Internet and this is very astounding and the reason for that is last year we had reported a decrease in terms of internet revenues and this year we are reporting an increase of 1.5 and that was mainly the fiber expansion that we spoke about. And then we have to justify, also we have to diversify our revenue streams. BTL continues to be in a very competitive market and as we know we continue to bring value to our customers but we also need to find new revenue streams to continue growing the company. This year we had new revenue streams of about $3.4 million. Mainly in IP transit and this is the resale of internet bandwidth to wholesalers. We have a $2 million dollar increase also in terms of Microsoft sales however our largest growth was seen and we continue to see from the strongest, the best, the largest, the biggest 4G LTE advanced mobile network, that is an increase of $4.1 million over last year.”
Last night’s press conference comes on the heels of the BTL’s Annual General Meeting held last week.