One-quarter of profits will be paid to government as dividends
NUKUALOFA, Tonga (Matangi Tonga, July 3, 2013) – The Tonga Communications Corporation (TCC) announced a net profit of TOP$1.7 million [US$917,629] for the last financial year for 2011-12 and will pay the government a 25% share in dividends.
TCC, Tonga’s national and government owned telecommunication’s company, stated that despite years of setbacks in the wake of the global economic crisis and intense competitions, it had made a comeback with favorable results for its financial year ending 30 June 2012.
"The company achieved a net profit of TOP$1.7 million during the year out of which TCC declared and paid a 25% dividend, TOP$416,631 [US$224,890], to the government. It has been a remarkable turn-around for the company in contrast to a balance sheet that showed a loss of TOP$2.68 million [US$1.4 million] from previous years."
During the year TCC had invested millions of pa’anga in the...