Cable’s $10.69m profits swing amid refinancing drive on Aliv

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

CABLE Bahamas yesterday unveiled a positive $10.69m bottom line turnaround for the first half of its 2023 financial year despite encountering frustration over the pace of Aliv’s debt refinancing.

Franklyn Butler, the BISX-listed communications provider’s president and chief executive, told Tribune Business that it was aiming to improve profitability “quarter by quarter” after the three months to end-December 2022 delivered further net income to back up the prior period’s performance. While the $894,000 second quarter may seem relatively modest, it represented a more than $7m positive swing from the $6.261m loss incurred during the same period the prior year. And, for the halfyear to end-December, it took Cable Bahamas’ profits above the $4m mark compared to a $6.69m loss in 2021.

Key indicators were trending in the right direction, with revenue and operating income up year-over-year, while operating expenses, depreciation and amortisation and interest

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