Digicel Group has grown sales to US$1.73 billion, across 24 regional markets, the company said this week.

But while those revenues experienced 11 per cent growth at year end March 2009, they really represent a slowing of sales, which grew 38 per cent in the previous year.

Digicel also reported that its customer base had climbed to 7.1 million in the Caribbean and El Salvador, growing nine per cent in this region.

When Honduras and Panama are added to the list - markets entered in November and December 2008, respectively - the company says its customer numbers grow to 8.2 million.

At two million subscribers in Jamaica, the company now lays claim to 75 per cent market share.

Worldwide, Digicel has 31 markets and 9.2 million customers, which the company said represented a 34 per cent growth in subscriber base, up two million in the year.

"We have again over delivered on our targets," said Digicel Group CEO Colm Delves, quoted in a company statement on the results.

The eight-year-old company owned by Irishman Denis O'Brien, does not disclose its profits, but its declared 40 per cent EBITDA margin matched against sales would amount about US$690 million.

Last year, its operating profit was much lower at US$240 million, reflecting a 15 per cent operating margin, while losses amounted to US$74 million due to heavy debt servicing costs of US$296 million.

Digicel attributes its 40 per cent EBITDA margin to "successful rollouts in markets including El Salvador and Trinidad and Tobago", but said too that it demonstrated the company's "track record of profitable expansion, combining strong revenue growth with tight control of costs."

Pointing to innovations last year, the company said it introduced green technology through solar-powered mobile handsets, provision of solar-powered chargers, use of alternative energy to power base stations and degradable retail bags across all markets.

business@gleanerjm.com