Shares in the Botswana Telecommunications Corporation Limited (BTCL) reached a four-year high on the Botswana Stock Exchange (BSE) earlier today, after gaining 19 thebe in a single day's trade.
The BTCL, which has one of highest concentrations of retail investors on the BSE, previously reached today's high of P1.02 on December 16, 2019.
In today's trade, 30,200 shares traded hands for a combined value of P30,804 over three transactions.
Yesterday, BTCL unveiled results for the year ended March 31 2024 showing a 35% increase in pretax profits to P200 million.
Shareholders are also in line for a 23 thebe dividend, which includes a special payout of 15.3 thebe per share.
BTCL directors said the strong profits were due to growth in fixed voice services and high demand for mobile data services.
The profits were also influenced by an 18% drop in administrative expenses due to last year's restructuring exercise. Ends...
