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Digicel profits over $1 billion for the first time

Digicel Group Ltd, founded by Denis O'Brien, today announced record results for the year ended 31st March 2012.

The group, which operates in 30 markets in the Caribbean, Central America and the Pacific reports that subscribers are up 27% to 12.8 million and revenues are up 14% to $2.54 billion.

Earnings before interest and tax were $1.08 billion, up from $954m the previous year, an increase of 13%.

The company has cash reserves of over $657m at March 31st. The group CEO Colm Delves welcomed the results.

Chairman and founder of the group Denis O'Brien noted that the results reflected the continued growth and development of Digicel in the Caribbean.

The company employs over 4,700 people world-wide.