Digicel Group, the mobile carrier company controlled by businessman Denis O’Brien, saw first-quarter earnings rise, according to Bloomberg, citing a person with knowledge of the matter.
Adjusted earnings before interest, taxes, depreciation and amortisation rose about 4% to $223m during the first three months of the company’s financial year, according to the person, who asked not to be identified as the details were not yet public.
On a constant-currency basis, earnings rose about 8%.
Mr O’Brien founded Digicel in 2001 and turned it into a mobile-phone empire with customers spread from El Salvador to Vanuatu, partly on the back of issuing high-yield debt.
Earlier this year, the company said it would shed as many as 1,500 workers, 18 months after shelving a share sale.
Last week, it appointed Ray Leclercq as chief financial officer.
Digicel has been grappling with currency swings, most recently being boosted by the strengthening Haitian gourde.
The yield on Digicel’s April 2022 bond has dropped to 10.5% from 13.4% in March.
Revenue was broadly unchanged at just under $600m on a constant currency basis, according to the person.
Subscriber numbers rose 1% to 14.1m at the end of June.
A Digicel spokesman declined to comment.