UTS posts 2013 loss; Suriname, SKN ops blamed for decline

10 Jul 2014

Curacao-based, pan-Caribbean mobile group United Telecommunication Services (UTS) generated a net loss of ANG29 million (USD15.9 million) in 2013, the Daily Herald reports. According to financial data observed by the website, the slump is attributed to the company’s loss-making units, UNIQA in Suriname and UTS Cariglobe in Saint Kitts & Nevis (SKN); discounting the results of those two units – a combined net loss of ANG34 million – the company’s bottom line for 2013 would have been ANG4.7 million.

Meanwhile, UTS enjoyed a degree of success in its ‘UTS Eastern Caribbean’ division, which encompasses the company’s operations in Sint Maarten, Saint-Martin, Saint-Barthelemy, Bonaire, Sint Eustatius and Saba, as well as the loss-making SKN unit. UTS Eastern Caribbean posted a net profit of ANG13 million in the year ended 31 December.

As previously reported by TeleGeography’s CommsUpdate, UTS’s management shared plans to offload the loss-making units in Suriname and SKN in May 2013; it has now been revealed that the telco hopes to conclude a deal to sell the troublesome subsidiaries by 3Q14, although no buyers have been identified.

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