Denis O’Brien’s Caribbean mobile company Digicel posted earnings of $417million for 2007 and revenues of $1.48 billion, according to new figures.
The company is highly leveraged due to a 2007 recapitalisation, which resulted in $1.4 billion of additional debt. At the end of 2007, debt stood at $2.8 billion, which equates to 6.8 times earnings before interest, tax, depreciation and amortisation (Ebitda) for the year.
The company is working to reduce its debt ratio, and it was down...
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