Currency swings saw a fall in second-quarter earnings at Digicel Group Ltd, the mobile network company controlled by Irish billionaire Denis O’Brien, Bloomberg has reported, citing two people with knowledge of the matter.
Adjusted earnings before interest, taxes, depreciation and amortisation fell by about 11% as a result of adverse foreign exchange rates during the second three months of its financial year from a year earlier, according to the sources.
They asked not to be identified as the details had not yet been made public.
They said earnings rose about 1% on a constant-currency basis.
Services revenue dropped about 6% percent in the period, but also rose 1% on a constant-currency basis, one of the sources said.
Total revenue was down about 7%, and remained unchanged in constant currency, according to the person, who added the company said it planned to reduce its debt ratios over the next two years.
A Digicel spokesman declined to comment.
