The Botswana Telecommunications Corporation Limited (BTCL) anticipates its pretax profits for the year ending March 2024 to be up to P55 million higher than the previous year.

In an announcement to investors via the Botswana Stock Exchange (BSE), BTCL directors indicated that pretax profits for the year are expected to be between 32% and 37% higher than the P148.5 million recorded for the year ending March 2023. The results will be announced on or before June 30.

This announcement raises shareholders' hopes for a better final dividend from the telecom firm, exceeding the 2.05 thebe awarded for the half year.

Although directors did not provide specific reasons for the anticipated profit increase, BTCL has seen improved figures in recent reporting periods. Pretax profits for the half year ending September 2023 nearly quadrupled to P93.3 million.

At that time, directors attributed the profit boost to increased demand for mobile data and digital services. Despite pressures, the fixed business also remained resilient during the review period.

However, costs were pressured during the half year ending September 2023 due to higher spectrum license fees, network repairs driven by copper theft incidents, and the write-off of copper network assets replaced with fiber optic and alternative technologies.