Saturday September 19, 2020

Digicel earnings drop blamed on virus and currency fluctuations

Earlier this year, owner Denis O’Brien injected $50 million in cash into the company as part of a restructuring deal

Ian Guider

Markets Editor

@ianguider
6th September, 2020
Denis O’Brien, owner of Digicel where earnings fell by 15 per cent for the three months to the end of June. Photo: Getty

Earnings at Digicel have declined again, just months after a deal was cut to reduce the company’s debt burden.

Financial results for Denis O’Brien’s Caribbean mobile phone business show earnings fell to $208 million (€175 million) for the three months to the end of June, a drop of 15 per cent, according to Bloomberg, which first reported the data last week.

The results were blamed on the Covid-19 pandemic‘s impact on...

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