Annual Report 2005 of GrameenPhone Limited

It is a broadly described annual report of GrameenPhone Limited in the year of 2005. GrameenPhone Ltd. has become one of the largest contributors to the Government Exchequer in recent years. Since its inception till December 2005, the company contributed nearly BDT 47 billion, in direct and indirect taxes to the Government Exchequer. During 2005 alone, the company contributed around BDT 16.2 billion to the Government Treasury. Revenue in 2005 grew by 50 percent compared to the previous year. As a result, EBITDA and net profits were recorded at a higher level despite the introduction of a new SIM tax in the 2005-06 National Budget. Percentage of EBITDA, Net Profit, and ARPU, however, declined slightly compared to last year, due to higher intake of prepaid customers and change in tariff plans. A major part of the profit was re-invested in the expansion of the network in order to meet the pressing demand for providing coverage in new areas.

The Directors are pleased to recommend a final dividend @ 50% of the paid-up share capital amounting to BDT 1,215.17 million (@BDT 21.50 per share of BDT 43.00 each) for the year 2005 for consideration and approval of the shareholders for distribution.

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