Bahamas: Btc Suffers $30m Blow From Dorian
The Bahamas Telecommunications Company (BTC) has been dealt a $30m blow by Hurricane Dorian with network repairs set to last into 2020, it was revealed last night.
#The carrier’s ultimate parent, Liberty Latin America (LiLAC), disclosed that BTC suffered a $5m revenue loss for the three months to end-September 2019 as well as incurring some $25m in damages to systems infrastructure in Grand Bahama and Abaco as a result of the category five storm.
#Unveiling its results for the third quarter and first nine months of 2019, Liberty Latin America said some $5m was spent on restoring BTC’s services prior to end-September when the third quarter reporting period closed.
#It added that Dorian also delivered an $8m hit to the operating cash flow of Cable & Wireless Communications (CWC), BTC’s immediate parent and a Liberty subsidiary, while the latter was also forced into a $14m one-time write off of property and communications equipment that Dorian “damaged beyond repair”.
#Garfield “Garry” Sinclair, BTC’s chief executive, could not be reached for comment before press deadline last night. However, Liberty Latin America revealed in its results announcement: “In the third quarter we spent $5m on restoration related to damage caused by Hurricane Dorian in The Bahamas.