Flow rakes in US$108m in September quarter

Telecommunications provider Flow Jamaica made US$108.5 million ($16.6 billion) in quarterly revenue to September, up by nearly eight per cent year-on-year due to increased customers.

The Jamaica operations, which form part of the Liberty Latin America group, added about 500 new cell phone customers per day, which resulted in 44,500 new customers in the quarter. Of that number, 34,400 were new prepaid customers, who pay before accessing telecoms services, and 10,100 were new postpaid customers, who pay monthly phone bills.

“Jamaica was the largest contributor within C&W with 10,100 adds. It was the best ever quarter,” said Balan Nair, CEO, in a conference call on Wednesday following the release of the group’s financial results.

Liberty has been trying to add more postpaid users, which account for 64,900 of its 1.18 million mobile subscribers, and Nair said the new mobile “plans are effective” in Jamaica.

“[They] give better visibility to who our customers are,” he said on the conference call.

The Jamaican operations forms part of the Cable & Wireless Communications segment of Liberty Latin America.

The new customers added US$7.9 million more in revenue in the quarter, which rose from US$100.6 million in the comparative quarter ending September 2021 to US$108.5 million in the current period.

Over nine months, from January to September, the company generated US$319 million, compared to US$297.3 million the previous year.

“Year-over-year rebased performance continued to be driven by growth in our internet subscriber base, which was 22,000 higher over the past twelve months, driven by Jamaica,” stated Liberty in its September financials.

Liberty Latin America earned revenue of US$1.2 billion for the July to September period, up from US$1.19 billion a year earlier.

Its capital dipped to US$2.52 billion from US$2.9 billion.

steven.jackson@gleanerjm.com