B.T.L. Announces Decline in Profits

The annual general meeting of the Belize Telemedia Limited was held in Belize City on Thursday night. Shareholders as well as company executives were on hand for the fifth annual event since the company was nationalized. As we reported on Wednesday night, the performance of the company is not at its optimum. Telemedia recorded another reduction in overall profits; that being a seven percent decline which was down to a little over nineteen and a half million dollars from twenty-one million dollars in the previous fiscal year.  There was also a slight decrease in gross revenues, from a hundred and forty-three point eight million dollars to a hundred and forty-two point six at the end of March.  The state-owned telecommunications company also announced during its annual general meeting that shareholders will be paid four-point-eight percent this year, also down negligibly since 2013.  Interestingly, B.T.L. is reporting a loss of seven million dollars in revenue since granting internet users access to VoIP.  There is also a significant plummet in international long distance revenue as a result of the voice messaging technology.  That steep fall in profit is ten million dollars less than what was earned prior to the introduction of VoIP.  While B.T.L. touts a growth of twenty-four percent in market share of broadband users, there is a substantial reduction in rates for two-fifty-six and five-twelve kilobyte users, which is still higher than the rest of the region.  Curiously, the telecommunication company is considering diversifying its interests into real estate.