City Telecom 1H FY2010 Results -- Record Broadband Subscription Growth
25 May 2010 - 9:59PM
City Telecom (H.K.) Limited ("City Telecom") (HKSE:1137)
(Nasdaq:CTEL) today announced interim results for the six months
ended 28 February 2010. The Group's financial performance in 1H
FY2010 was well ahead of 1H FY2009, substantially driven by our
strong operational growth in the Fixed Telecommunications Network
Service (FTNS) business, as well as lower financial costs. The
Board has resolved to declare an interim dividend of HK6.5 cents
per ordinary share versus HK3.0 cents for same period last year.
Financial Highlights:
- Solid subscription growth of 84,000 during six months to
1,027,000 as of 28 February 2010
- The fastest growing residential broadband provider in Hong Kong
with net additions in broadband of 73,000 to 464,000 as at 28
February 2010, compared with 75,000 additions for the entire twelve
months to 31 August 2009
- Turnover grew by 9.0% year-on-year to HK$786.0 million driven
by higher revenue contribution from our Fixed Telecommunications
Network Service (FTNS) business of 14.0% year-on-year to HK$675.8
million
- Core EBITDA (note) increased by 11.4% year-on-year to HK$258.5
million
- Net profit up 54.6% year-on-year to HK$116.4 million with basic
earnings per share amounted to HK17.3 cents versus HK11.6 cents for
same period last year
- Strong balance sheet with net debt to annualized EBITDA of
0.1x
- Declared an interim dividend of HK6.5 cents per ordinary share
versus HK3.0 cents per ordinary share for same period last
year
Note: Core EBITDA represents the EBITDA for any period plus or
deduct any net (loss) or gain from extinguishment of 10-year senior
notes.
For full details of our interim results, please click the link
below: http://ir.ctigroup.com.hk/eng/ir/results.php
About City Telecom/Hong Kong Broadband Network
Limited
Established in 1992, City Telecom (H.K.) Limited (HKSE:1137)
(Nasdaq:CTEL) provides integrated telecommunications services in
Hong Kong via its own self-built fibre network. City Telecom's
wholly-owned subsidiary, Hong Kong Broadband Network Limited
(HKBN), is the fastest growing broadband service provider in Hong
Kong. HKBN offers a diversified portfolio of innovative products
that service over 1,027,000 subscriptions for broadband, local
telephony and IP-TV services. The Company has built a solid market
position with top-of-the-line applications and practices enabling
it substantial growth. The company takes great pride in developing
its 3,000 Talent force into a competitive
advantage. Additional information on City Telecom can be found
at www.ctigroup.com.hk.
CONTACT: City Telecom (H.K.) Limited
Corporate Communications
Jessie Cheng
(852) 3145 4118
Fax: (852) 2199 8372
chengcm@ctihk.com
Investor Engagement
Peggy Chan
(852) 3145 6068
Fax: (852) 2199 8655
investor_engagement@ctihk.com
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