Facebook   Twitter    YouTube    RSS Feed    Android App    iPhone and iPad App     BlackBerry App    
Subscribe to Newsletter



Results 1 to 5 of 5

Thread: Broadband Infraco boost

  1. #1

    Default Broadband Infraco boost

    Broadband Infraco boost

    State-owned Broadband Infraco, which has operated under its new name for the last eight months, posted an operating profit of R18.7 million for 2007/08 but would have reported a R35.6 million operating loss if interest income of R61.4 million was not included, chairman Andrew Mthembu and acting chief executive David Smith have reported to parliament.

  2. #2
    Super Grandmaster smokey's Avatar
    Join Date
    Dec 2007
    Location
    /\_____/\
    Posts
    13,344

    Default

    thats a novel idea. put your money in a high interest bearing account and make money that way. brilliant. a government co pany looking to make as large a profit as possible. no spending - why would they *cringe*

  3. #3
    Super Grandmaster ToxicBunny's Avatar
    Join Date
    Apr 2006
    Location
    Crimetown
    Posts
    44,136

    Default

    Wait.. why the hell are Infraco posting profits etc etc....

    Being a parastatal they should be plowing the profits back into the business to improve the infrastructure.... and interest income?... We as a public need to be demanding an explanation of why that money is not being utilised to deploy infrastructure.
    Quote Originally Posted by Korn1 View Post
    I have been called a retard my whole life

  4. #4
    Senior Member
    Join Date
    Mar 2005
    Location
    West Rand
    Posts
    401

    Default

    So I guess now that the Directors will get hefty bonuses just because they put the money in the bank and earned interest.

  5. #5

    Default

    There are many reasons why they would park the money somewhere for a bit. e.g. They get the money now but only need to pay the contractor later when the work is done.
    Man walks down the street in that hat, people know he's not afraid of anything.

Tags for this Thread

Bookmarks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •