Crystal Telecom records Rwf 1.1 billion in profits

Share it

 

Crystal Telecom records Rwf 1.1 billion in profits

Crystal Telecom records Rwf 1.1 billion in profits

The Crystal Telecom limited has recorded a profit of over Rwf 1.1 billion in profits by end of December 2015.

According to results released by Rwanda Stock exchange on Wednesday, the telecom, a crystal venture subsidiary recorded retained earnings profit of Rwf 136 million by the end of December 2015 from its incorporation.

The company which is listed on the country’s stock exchange since July 17, 2015 was formed in 2013 when Crystal Venture, a Rwanda based investment firm wanted to carry out Initial public offer for its 20 percent shares in the country’s leading telecom operator, MTN Rwanda cell.

The offer according to Stock exchange was over-subscribed by 123 percent.

In a statement signed by Stock exchange Chief executive officer Celestin Rwabukumba, indicated that the company recorded over Rwf 28.84 billion in total assets and Rwf 28.81 in total equity.

While the company’s   basic and diluted earnings per share stood at Rwf 4.26, share of profit of associate at Rwf 1.1 billion with share capital standing at over Rwf 13.5 billion and share premium recorded at Rwf 15.1 billion by December 2015.

Also in a notice signed by David Karima, the company secretary said that the telecom is expected to carry out its Annual General Meeting on 29th April 2016.

 

Tags:

 

About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

More posts by | Visit the site of Ndaka

 

0 Comments

You can be the first one to leave a comment.

Leave a Comment

 




 

 
 

Warning: Illegal string offset 'id' in /home/wp_ts2em7/rwandaeye.com/wp-content/themes/manifesto/footer.php on line 4

Warning: Illegal string offset 'id' in /home/wp_ts2em7/rwandaeye.com/wp-content/themes/manifesto/footer.php on line 4

Warning: Illegal string offset 'id' in /home/wp_ts2em7/rwandaeye.com/wp-content/themes/manifesto/footer.php on line 4