Botswana Telecommunications Corporation (BTC) has revealed that it expects its pre-tax profits to surge more than expected in the six months period ending Sept. 30, which represents the first half of its current financial year.
BTC is a telecom and Internet services provider in Botswana, operating under Anthony Masunga. The leading executive played a key role in the merger of the telecom company with BeMobile into a single brand in 2016.
Through its operations, BTC offers fixed, mobile and broadband services to consumers, enterprises and other licensed service providers.
A trading statement issued by the telecom service provider revealed that it expects profit before tax to rise by between 25 and 32 percent, which translates to an increase of BWP19 million ($1.6 million) to BWP24 million ($2 million), compared to the BWP77 million ($6.6 million) reported last year.
It noted that a resilient business model, coupled with its marketing and cost strategies, will continue to strengthen its core business and optimize efficiencies and returns on assets, in addition to growth opportunities in the operating environment.
In recent times, BTC has been able to sustain growth in earnings and the robust financial performance that it is set to deliver during the current period will build on the 16-percent earnings growth that it posted last year.
Its robust performance in recent times can be linked to the monetization of investments in fixed and mobile broadband infrastructure in support of high-speed Internet service at home and offices across most parts of the country.
BTC has been able to defy difficulties in its operating environment spiked by the pandemic, as the management revealed that the telecom service provider is better positioned to leverage the strong recovery of the local economy from the early stages of the pandemic and the increase in the consumer’s propensity to spend savings and disposable income.
Looking ahead into the final half of the year, Masunga disclosed that the telecom company will focus on streamlining efficiencies throughout the business.
“We will continue to keep a tight rein on our costs coupled with smart capital expenditure investments. In line with the evolution of business, one of the key focus areas will be digitization throughout the business as well as automation of key processes,” he said.