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Dublin: 12 °C Wednesday 22 October, 2014

Denis O’Brien’s Digicel hits profits of more that $1bn

It’s the first time the telecoms group has reached profits of this level. It operates across the Caribbean, Central America and the Pacific.

Denis O'Brien, Digicel's chairman and founder
Denis O'Brien, Digicel's chairman and founder
Image: AP Photo/Ariana Cubillos/File

DIGICEL, THE MOBILE phone operator with Denis O’Brien at the helm has seen its earnings rise by $1.08 billion in the past year.

The record results for the company also show that revenues increased by 14 per cent to €2.54 billion, thanks to a 27  per cent increase in subscribers. Almost 13 million people now use the service in 30 markets across the Caribbean, Central America and the Pacific.

O’Brien has welcomed the results, saying they are down to a “very strong management team and workforce”.

Digicel employs over 4,700 people worldwide and invests €25 million in community projects in Haiti. It has also funded 53 infrastructure projects in Papua New Guinea in the past year, and completed 52 community projects in Jamaica.

In April the Sunday Time Rich List claimed that O’Brien had seen the biggest drop in wealth among Ireland’s richest people, although with a fortune of over €2.6 billion, he’s still Ireland’s second richest person.

Previously: O’Brien announced end of Digicel interest in Eircom>

Denis O’Brien the biggest Irish loser on the Sunday Times Rich List>

Denis O’Brien criticises Sindo for “one of the most biased campaigns ever waged”>

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