Billionaire O'Brien's Digicel Said to See Earnings Drop
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Digicel Group Ltd, the mobile carrier company controlled by Irish billionaire Denis O’Brien, told bondholders quarterly earnings dropped 10 percent, according to a earnings release seen by Bloomberg News.
Digicel’s earnings before interest, taxes, depreciation and amortization in the quarter ending March 31 dropped to $253 million from the year-earlier period, as the company altered tariffs and took a $3 million hit from hurricanes, the company said in the presentation to bondholders on Monday. Full-year earnings dropped 2 percent to just over $1 billion.