Global Telecom Holding, a leading provider of mobile telecommunications in Africa, Asia and North America, reported a net loss of US$ 924.3m in 2013, compared to a net loss of US$ 205.8m reported in 2012.
The company reported a 7.0% increase in its customer base in Q4-13, compared to the same period a year earlier.
FY13 revenues also retreated 5% to US$3.4 billion from $3.62 billion in FY12.
Meanwhile, Q4 loss widened 60% to US$748.78 million, compared with US$468.9 million loss in the same period a year earlier.
Q4 revenue fell 8% toUS$833.5 million from US$908.3 million.
Ahmed Abou Doma, Chief Executive Officer, commented: “In the fourth quarter of 2013, our customers increased 7% YoY to exceed 89 million customers, driven by steady growth in Algeria and Pakistan as well as strong additions in Bangladesh and Canada. Our revenue stood at USD 834 million for the quarter, representing an organic decline of 6% compared to last year, with an EBITDA of USD 397 million.”