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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
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    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
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    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.
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    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

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    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.
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