Sudatel Group announces USD 52 Million net profits for FY2015
Earnings per share increased 10% and net profits up 4%
Sudatel, a leading telecom group operator in Sudan and West Africa, is announcing its end of year financial results with a positive increase in its net profits for the fiscal year 2015. The Group witnessed positive growth across all financial indicators achieving US$ 52 Million in net profits, an increase of 4% compared to the previous year as well as earnings per share going up 10%.
The announcement was made during the first Board of Directors meeting chaired by Dr. Abdulrahman Darar, Chairman of Board of Directors, and that took place this year with participation of all members from both inside and outside of Sudan.
Engineer Tarig Hamza Zainelabdin, Chief Executive Officer of the Group expressed his satisfaction with the results achieved over the past year and which have been authorized by the Board. He also stressed that the Group is moving steadily towards achieving the strategic objectives set by the Group and that was approved by the Board of Directors late last year. Zainelabdin also praised the performance of all employees working in the Group’s companies and stressing on the pivotal role they play and for their contribution to the development of the telecommunications sector in all the countries in which the Group operates.
The board meeting’s agenda included reviewing the Group’s financial performance and the external audit reports for the fiscal year 2015. The Board also ratified the financial results report and the final accounts audited by the General Auditor Office in Sudan and by independent auditor firm “International Accountants” based in Saudi Arabia, as well as reports by Ernst & Young who are responsible for auditing the Group’s companies in West Africa.
The Board of Directors also adopted the invitation of the General Assembly to convene on the 30th of April 2016 to approve the final accounts for the Group and distribute cash dividends to shareholders.
Dr. Abdulrahman Dirar has praised the Group’s remarkable financial results, which showed a financial improvement in all areas and which confirms the continuous growth of Sudatel Group’s activities for the second year in a row.
Sudatel Group currently serves more than 11.3 million subscribers and has a diverse portfolio of subsidiaries ranging from Data Centre to Submarine Cable companies to Local Telecom Operators in Sudan and four West African Markets, including Mauritania, Senegal, Ghana and Guinea Conakry.