During the six month period ending 30 June, GO increased its operating profit by €4.0 million (41.4 per cent) to €13.7 million, when compared to the same period in 2014. This improvement in profitability was achieved thanks to stable revenues of €60.7 million (2014: €60.8 million) and improved cost management.

During the first half of the year, GO continued to experience growth in a number of areas, particularly mobile services and data centre business. Retail revenues were positive, based largely on the continuing strong take up of Limitless mobile plans and Limitless Homepack, which also contributed to further overall growth in GO's client base, which continues to stand at more than 500,000 connections.  These positive trends compensated for a decline in wholesale revenues, a direct consequence of regulatory decisions. Revenues from traditional fixed-voice services also continued to decline.

Yiannos Michaelides, CEO at GO, said, "This set of impressive half yearly results continues to give us the confidence that the strategy GO is pursuing is the right one. Our ability to satisfy all the telecommunication needs of households and businesses remains key to our success. Our straightforward Limitless propositions, which we have further improved in 2015, will continue to be popular with customers and drive growth. At the same time, GO will later this year launch 4G and continue to invest in Fibre-To-The-Home, further enhancing its position as the leading 4P player in Malta.  GO will also continue to invest in its leading data centre business. These investments, together with the ongoing review of processes aimed at improving service to customers and improved cost management have also contributed significantly to delivering this excellent result.  Despite the fierce competition, regulatory pressures, and the systemic declines in some areas of our business such as fixed telephony, GO has continued to perform exceptionally well and for this I must thank all our employees for all their hard work and our customers for their loyalty."

During the first six months of 2015, cost of sales and administration costs excluding costs of an unusual nature, size or incidence, namely voluntary retirement costs and pension obligations, amounted to €47.4 million.  This represents a decrease of €2.3 million over the comparative period.  Whilst the Group successfully pursued cost reductions in most areas, it also experienced increased incidence of costs in certain areas particularly those directly related to sales activity.

Operating profit before costs of unusual nature, size or incidence, amounted to €14.1 million, an increase of €2.3 million (19.7 per cent) over the operating profit of €11.8 million achieved in the comparative period.  Profit before tax increased by €4.5 million (53.0 per cent) from €8.5 million in 2014 to €13.0 million in the first half of 2015.

Cash generation from operations remained healthy and amounted to €22.7 million (2014: €18.4 million) whilst as at 30 June 2015 the Group's borrowings net of cash holdings amounted to €43.5 million, an increase in net debt of €2.1 million over December 2014.  An increase in net debt is normal during the first half of the year and is directly related to the payment of a net dividend of €7.0 million (€0.07 per share).

Deepak Padmanabhan, Chairman at GO , said, "GO's performance is exceptional when benchmarked against the current norm for the telecommunications industry where most operators report declining revenue and profitability. These results have been achieved because GO has pursued a clear strategy of revamping its product portfolio, enhancing customer experience and driving efficiency.  Combined, these have placed GO in a strong position to look to the future with confidence."