One Communications Ltd today announced net income of $8 million for the first half of this year.

Operating income for the six-month period ended June 30 was $7.9 million, the telecommunications group said in an announcement through the Bermuda Stock Exchange.

Earnings before interest, depreciation, amortisation and one-time charges for the period were $16.4 million.

Consolidated revenue for the period was $63.4 million — $50.3 million from its Bermuda operations and $13.1 million from the Cayman Islands.

Operating expenses were $55.5 million. Comprehensive income attributable to equity holders was $7.1 million for the period which includes a $100,000 reclassification for a gain on sale of equity securities.

“We’re now just beginning to recognise the positive impact of our integration efforts and capital improvement investments in the last year, both in terms of our financial results and improved customer experience,” said Frank Amaral, chief executive officer.

“We’ve also worked hard to increase value for our customers this past year, making substantial progress with both our FibreWire construction in Bermuda and our fibre deployment in Cayman.”

Earnings per share for the six months ended June 30, 2017 were 19 cents.

One provides cellular voice services, internet and cable television in both Bermuda and the Cayman Islands.