(PR): Following a major restructuring, exit of previous international sponsors and re-invigorated drive for growth, WorldCall Telecom Ltd (WTL) highlighted its corporate turnaround credentials to investment participants.
Conveying their message to the PSX members, brokerage analysts and corporates, fund managers and top-tier analysts at a dinner at a local hotel, management re-iterated its commitment to ‘sweating the assets’ deriving value from sizeable infrastructure the company operates throughout the country. With four major operating segments: 1) Cable & Media, 2) Metro Fiber/P2P, 3) Long Distance International (LDI), 4) VAS (inc. WLL), and associated telecom asset base, the only missing link was diligent management capable of delivering consistent market penetration. The company undertook major cost restructurings because of which operating costs were reduced by Rs45m per month and finance cost was curtailed by Rs35m/month.
To be executed in two major phases WTL’s corporate revival is based on quantitative growth in revenues, targeting subscribers to utilize previously dormant traffic based assets. Additionally, management intends to enhance quality service offerings, while monetizing associated offerings (SMS monetization, firewall solutions), service bundling (enhanced cross-selling, bundling, FTTH launch). In the second phase the company has a target of 15% QoQ revenue growth for 2018 with the annual growth target set at 75%, management targets revenue of Rs4b in CY18, said Babar Ali Syed, Chief Executive Officer of the company.
Having a strong asset base ($86m post impairment) with improved governance and fully enabled functional managers, WTL has set out to enhance value for all stakeholders. Re-orienting business practices to strengthen revenue generation and improve organizational practices, WTL has benchmarked for 100% enhancement in its enterprise value. Being a domestic telecom brand, with strong value and a cohesive management strategy, WTL is on the road to achieve sustainable organic growth, without the need for additional fund raising. With committed sponsors, finances, and strengthening corporate clientele the company in on track to magnify its brand, asset base and financial health.
Source: The Nation