International growth drives Netgem to seek Mexican opportunities

Parent Category: News | 17-01-2014

After clocking Ä81.3 million in revenue for 2013, 77% of which was generated internationally, Netgem will create a subsidiary in Mexico to support Iusacell, the optical-fibre operator in Mexico City, in the fourth quarter.

Overall, Netgem said that itís maintaining its objective to double its international revenue between FY2011 and FY2014, confirming the return to growth started in FY2013. The Group expects to continue to grow profitably, maintaining its high investment capacity, with a strong cash position and no debt, it said.

Netgem intends to continue an approach that it already successfully initiated in the Asia Pacific region, consisting in bringing operational and commercial resources closer to countries with robust growth prospects.

The group also announced the launch of an Internet television service with eircom, the main Irish telecom operator, which is delivered within quad-play packages of Internet, fixed telephony, mobile and TV for optical-fiber subscribers.