Lao Telecom eyes stronger growth for 2016
Lao Telecom eyes stronger growth for 2016
Lao Telecommunications Company (LTC) projects income this year to reach 1,790 billion kip from its services in the country, an increase of 13.3 percent over last year.
The plan was revealed last Friday at the company's annual meeting, which was attended by Minister of Posts and Telecommunications Mr Hiem Phommachan, Lao Telecom General Director General Mr Thongsay Sanexaya, foreign shareholder of Lao Telecom Representative Mr Piyawat Jriyasetapong and more than 200 Lao Telecom officials from all branches across the country.
The company earned 1,659 billion kip and this year the co mpany will strive to earn 1,790 billion kip, Mr Thongsay reported at the meeting.
“We expect to earn a net profit of about 376 billion kip and contribute 380 billion kip to national revenue,” he said.
Mr Thongsay also pointed out the outstanding outcomes the company had achieved through the year.
He explained that last year the company invested US$46 million in service improvement and telecom network expansion, US$38 million for its mobile phone system, US$3.6 million for transmission lines, US$0.3 million for landline phones, plus US$4 million for internet and other services.
The company opened cross border services between Laos and 9 overseas networks, including data roaming increasing to 28 networks.
This was a key factor in the company being able to gain new customers and maintain existing customers, he said.
Lao Telecom currently has 1.5 million subscribers, of which over 43,000 use landlines, 444,000 use WinPhone numbers, and over 569,000 are internet customers.
Mr Thongsay said in 2015, the company earned income of 1,659 billion kip or 119 percent of the annual plan and earned a net profit of 358 billion kip or 151 percent of the annual plan.
Company also contributed 450 billion kip to national revenue, accounting for 32.3 percent of income, an increase of 37 percent compared to 2014.
Besides that, the company has improved its social welfare policies in a bid to enhance the lives of its employees.
The company also provided 3.6 billion kip in financial support and necessary equipment to government organisations and society, he added.
In 2016, the company will continue to improve and expand the telecom network to ensure quality and quantity, with safe data and modern systems to provide good services for members of society, Mr Thongsay said.
