Dialog’s 6 month post tax profits up 8 percent

Dialog Telekom PLC said this week its post tax profits for the first half of 2007 was Rs. 5.2 billion, marginally up by 8 percent from the 2006 period.

Company earnings come from mobile business supplemented by earnings accruing from the company’s international business operations and Internet service provider operations.

In a statement, Dialog said there was a 43 percent increase in mobile subscribers YoY (year on year) while the inflow of Rs. 15.5 billion through the rights issue is expected to fuel further aggressive growth in infrastructure and subscribers, while serving to mitigate the funding costs incurred by the company in the first half of 2007.“The upturn in macro-economic indices in tandem with the recently concluded clearing operations in the Northern and Eastern Province of Sri Lanka are expected to assist the company in delivering enhanced growth metrics during the second hand of the year,” the statement said.

However group results of Dialog Telekom PLC recorded a Profit after Tax of Rs. 4.87 billion, easing by a marginal one percent from the first half of 2006, precipitated by a negative contribution of Rs 349 million from the recently operationalised subsidiary Dialog Television (Pvt) Ltd (DTV) which had a dilutive effect on the profit growth.