Amalgamated Telecom Holdings Limited is anticipating a reduction of about 40 to 50 percent in it's consolidated profit for the financial year ended 31st March 2010 when it,s results for that period are announced next month.

ATH Chief Executive Officer, Tomasi Vakatora said indications were there with trends at the half way point in September 2009 that a reduction in profit of this magnitude compared to the previous financial year, was likely.

Vakatora said competition, price reductions through determinations by the Commerce Commission, soft trading conditions and the impact of the global financial crisis were some of the contributing factors to reversals in revenue.

The ATH CEO also said the group incurred additional costs from abnormal items like currency exchange loss due to the devaluation of the Fiji dollar in April 2009, and costs associated with staff redundancy as a result of the restructure of group companies.

Vakatora said they are doing their best to see how shareholders' interest can be accommodated however from where they stand at the moment, the same situation is continuing for ATH into the current financial year ending 31st March 2011.

He added that ATH remains optimistic and continues to pursue various investment opportunities in line with it's strategies for consolidation of business and then growth in order to maximize it's shareholder value in a somewhat subdued environment.