Cable Bahamas has set itself the target of increasing non-cable television revenue to 40 per cent of total revenues by 2005, having last year achieved the goal it set itself in 1999 of growing this to 25 per cent.
Writing in the company’s 2002 annual report, Philip Keeping, Cable Bahamas’ chairman, said cable television revenues, which accounted for 72 per cent of the total last year, grew by 1.1 per cent to $26.7 million. Non-cable television revenue, led by the company’s Internet and Caribbean Crossings business, grew by 125 per cent in comparison with 2001 to reach $10.2 million.
For 2003 Mr. Keeping said Cable Bahamas expected total revenues to grow between $41 and $42 million, and total operating income (EBITDA) to strike $19-20 million. The Tribune incorrectly reported earlier this week that these figures would come from just Internet and related technologies.
Source: Neil Hartnell, The Tribune
