Wednesday, January 29th, 2020

GP reports solid business performance in 2019

Published 11:00 pm | January 29, 2020

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Online Desk : Grameenphone Ltd has recently reported a total of Tk 14,370 crore revenue in 2019 registering a 8.1 percent annual growth.

During the year, data revenue grew by 17 percent while voice revenue grew by 8.5 percent, said a press release of GP.

Grameenphone acquired 0.07crore new subscribers in the fourth quarter, reporting a total of 7.65 crore subscribers at the end of 2019 and a 5.1 percent growth year over year.

A total of 4.06crore or 53.1 percent of the subscribers of Grameenphone Ltd are using the internet services.

“2019 was a particularly tough year for Grameenphone on the regulatory front, it is facing many challenges that impacted our day to day operations. However, through excellent execution in the market and maintaining our network leadership position, we have delivered a solid business performance.”, said Michael Patrick Foley, CEO of Grameenphone Ltd.

“We want to reiterate our commitment towards meaningful consultations between our industry and the government that can enrich our service propositions and facilitate the current growth momentum of the country,” he added.

The Board of Directors of Grameenphone Ltd. have recommended 13.00 BDT dividend per share for the full year 2019 based on the decision taken at the board meeting held on January 27.

The Shareholders as of the record date of 17 February 2020 will be entitled for this final dividend, which is subject to the Shareholders’ approval at the 23rd AGM to be held on April 21.

In the fourth quarter, Grameenphone Ltd. invested Tk 390 crore for network coverage and added 715 new 4G sites along with network modernization.

The company also paid out Tk 8,510crore equaling 59.2 percent of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment.

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