BTC notches its highest profits in 10 years
With a 52.2 percent increase on the previous year, the Botswana Telecommunications Corporation (BTC) has posted year-end net profits of P181 million, the highest in 10 years.
The financials were released yesterday for the year ended March 31, 2010. BTC’s year-end results indicate that the utility’s net profits of P138.8 million in 2006 were the closest BTC came to this record-breaking performance.
The results also indicate that BTC’s operating revenues nearly touched the P1 billion mark at P958.4 million, up 14.7 percent from 2009.The parastatal was also able to shave P60 million off its debts for the year and halved the cost of its loans to [continue reading]