VEON announces financial and operating results for the quarter ended 31 March 2019

VEON, the parent company of Banglalink, today announced financial and operating results for the quarter ended 31 March 2019. In the earnings release, VEON has published Banglalink’s result as well. Please find details in the mentioned link: https://veon.com/investor-relations/Reports–results/Results/
Erik Aas, CEO, Banglalink said, “Banglalink has started the year on a high note registering a strong performance in the Q1 through remarkable improvements and increased customer confidence. Along with posting a 4.5% YoY revenue growth and 5.4% YoY service revenue growth, we managed to expand our customer-base by 2.4% on the YoY basis. Our data revenue has been growing consistently over the years, and in this quarter we witnessed a 36.0% YoY and a 25.2% QoQ data revenue growths driven by the increase in the smartphone penetration, data usage and internet user-base. The impressive results are indicative of our network improvements and enhanced network availability following the highest amount of spectrum acquisition last year, along with the continued expansion of Banglalink’s distribution footprint. As we welcome and appreciate the Government’s move on introducing SMP guidelines, moving forward we earnestly expect proper implementation of SMP rules and other regulatory revisions to ensure competition and a level playing field that will help to serve our customers in a more significant way.”