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

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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