Golan Telecom posted revenue of NIS 136.6 million in the third Q - 5.6% increase %

Cellular company Golan Telecom posted revenue of NIS 136.6 million in the third quarter of 2019, an increase of 5.6% compared to the corresponding quarter last year - according to the company's reports for the third quarter of 2019.
The cancellation of the provision for the payment of frequency fees for the following years led Golan Telecom to record one-time profit of NIS 118 million in the third quarter reports. The company has already reported that the Communications Ministry has allowed it to return frequencies that it did not use, resulting in the expected payment being canceled that the company was required to pay for frequency fees due to using those frequencies.
According to the company, operating profit in the third quarter of 2019 amounted to NIS 146 million, and in the nine-month period to NIS 198 million. The increase in operating income was partly due to a one-time profit of NIS 117.7 million, resulting from the cancellation of a liability for a third-generation frequencies contract, which was canceled at the beginning of the quarter. Excluding this one-time profit, operating profit in the third quarter of 2019 amounted to NIS 28.1 million, reflecting a 13% increase over the corresponding quarter last year.

The company reported 923 thousand active subscribers, an increase of 17,000 subscribers from the previous quarter, and with an average monthly income (ARPU) in the quarter of NIS 49.5, an increase of 4% compared to the corresponding quarter last year. The rate of abandonment in the quarter was 7% compared to 8.4% in the corresponding quarter last year.