GO subsidiary Cablenet reports double-digit growth for 2021

Cablenet Communications Systems plc, a subsidiary in which GO plc holds 63.4 per cent share, has reported €53.5m in revenue during 2021, a healthy 14 per cent growth over 2020. This double-digit growth in revenue was driven, largely by the significant growth in the overall subscriber base, which recorded a 30 per cent increase over the previous year.

Cablenet was the first foreign registered company to be listed on the Malta Stock Exchange, back in August 2020. The €40m bond offering was expected to support further growth for Cablenet. In line with such expectations, its performance has since gone from strength to strength, delivering healthy returns for shareholders. 

“Achieving such an industry-leading growth rate, on the back of the challenges brought about by the pandemic, not to mention the highly penetrated and mature market environment simply demonstrates the strengths of our human assets, our strategic clarity and execution efficiency,” said Yiannos Michaelides, CEO at Cablenet.

“2021 was marked by our full entry as a Mobile Network Operator in the Cyprus market. Our innovative product concept, which is predominately targeted toward post-paid customers offers unlimited...