REV and Aliv Moving in Together
The Communications Provider Demonstrates Agility in a New Reality
Cable Bahamas Group, the only Bahamian owned “triple play” communications provider and controlling shareholder of Be Aliv Limited, continues focus on performance and efficiency at the operator.
Mr. Franklyn Butler, President and CEO of the Group said that “The business has demonstrated agility in a new reality. It is doing all it can to ensure we continued to operate. We continue to closely monitor developments with respect to COVID-19. We have activated and adapted, where and when necessary, our business continuity plans since March. At the time, REV & ALIV stores had to close at the start of the pandemic. We have taken this time over the last three months to complete a review of our store operations, for both REV & ALIV, holistically. As part of this review, we have decided to close our REV store at Marathon Mall for renovations, for the time being, and deliver support for the full suite of REV services via our ALIV store at Marathon Mall, here in New Providence. Simply, everything we did at the REV Marathon Mall store, will now be done at the ALIV Marathon Mall store. Plus we are also extending this REV service to our ALIV store locations at Southwest Plaza to serve the needs of our REV customers even further. Most importantly, we have also further increased the methods for REV bill payments via ALIV. All REV bills can now be paid via the MyALIV app, at all ALIV kiosks, at all ALIV stores and on all ALIV terminals. ”
Mr. John Gomez, COO said that “We will redeploy resources that worked previously at the REV Marathon Mall stores within the ALIV stores, while other resources will continue to serve our customers as part of the Customer Experience Team. Further information will be shared shortly once this plan is further refined. The Executive Team are working very closely to ensure we optimize our resources and deliver the best possible service to our REV customers. We are by no means finished, there is still much work to be done.”
Despite a challenging 12 months and the impact in Q2 of Hurricane Dorian, CBL Group continued to grow revenue and improve EBITDA across REV and ALIV operations. REV delivered $88.8M in fixed revenues to March 2020 which factors in the impact of significant subscriber losses of both corporate and residential customers in Abaco and Grand Bahama due to Hurricane Dorian. ALIV continued revenue growth and recorded positive EBITDA for the 3rd quarter, nearly $1M on a standalone basis. On January 22nd 2020, CBL concluded the sale of Summit Broadband to Grain Management LLC and has significantly improved its balance sheet and cash positions.
Mr. Butler concluded that “Rest assured, Myself and the Executive Team continues to be 100% focused on supporting our customers while driving efficiency in this “New Normal”. We will continue to navigate the realities of COVID 19. We will continue to demonstrate agility in a new reality.”