By Dianne Silva
Dialog Axiata plans to focus on strategic investment and free cash flow to capitalize as market leader, Group Chief Executive & Executive Director Dr. Hans Wijayasuriya said.
In an interview with “Proactive Investors” from the United Kingdom on May 26, Wijayasuriya explained that the company would use a rational and high critical approach to investment.
“We intend to focus on free cash strategic investment in order to capture new demand created by the economic growth experienced by the country. We will use a high level of scrutiny and a rational approach towards investments vis-à-vis the potential of those investments to generate cash in the medium term,” he said.
Wijayasuriya elaborated on the expected increase in Information Communication Technology consumption in the country. “The country and the industry has seen an aggressive rebound and likewise the economic growth in the country will filter down to high consumption of ICT, which in turn will benefit Dialog, as the market leader,” he explained.
Dialog intends on holding firm to its “rebound turn around” programme from 2010 which helped the company come back from Rs. 12 Billion loss in 2009 to a net profit of Rs.5 Billion in 2010.
Dialog recorded an Rs.1.16 billion profit in the first quarter of 2011. “We didn’t take a defensive approach towards the rebound, instead we attacked the market aggressively,” he claimed. He added that Dialog also hopes to hold to the trend of paying a dividend to its investors.
It had been strongly speculated that Dialog was to ink a deal with fixed-wireless operator Suntel. However, Dialog later informed the Colombo Stock Exchange that the company was not pursuing such a deal.
source - www.dailymirror.lk
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