On 1 November GO plc issued its Interim Directors’ Statement noting that following the improved performance during the first half of 2010, the Group also registered a positive performance during the third quarter the year. However, GO remains cautious in view of the challenging economic environment.
GO plc stated that during the year it registered strong growth in overall customer connections with increased connections in TV, broadband and mobile making up for the marginal reduction in traditional fixed-line voice connections. This led to growth in revenues from voice and data services when compared to 2009. Moreover GO explained that the launch of premium sports and movies during the latter part of the third quarter of 2010 is encouraging and such initiatives are expected to continue to lead to increased revenues.
This year GO plc benefitted from lower costs mainly as a result of headcount reductions. The growth in revenues, the reduced cost base and the continued control over its expenditure have contributed to GO’s improved levels of profit from operations during the third quarter of the year.