City Telecom (CTEL) Announces 12 Months 31 August 2007 Annual Results
23 November 2007 - 2:31AM
PR Newswire (US)
-- The year to 31 August 2007 was one of the best years in our
15-year history, in terms of the strong cash flow as our Earnings
Before Interest, Taxation, Depreciation and Amortization (EBITDA)
grew by 44.3% to HK$353.8 million. -- EBITDA margin expanded from
21.1% in FY06 to 31.0% in FY07. -- During the year, total
subscription base for Fixed Telecom Network Services (FTNS),
including all registered paid and free, on-net and off-net
subscriptions, increased by 66,000, with growth accelerating to
42,000 additions in second half of the year. -- Profit attributable
to shareholders at HK$28.9 million in FY07, compared with a loss of
HK$92.2 million. HONG KONG, Nov. 22 /Xinhua-PRNewswire-FirstCall/
-- City Telecom (HK) Limited (SEHK: 1137 and Nasdaq: CTEL, "The
Group") today announced a turnaround on profit attributable to
shareholders to HK$28.9 million in FY07, from a loss of HK$92.2
million in FY06. The Group's EBITDA grew strongly by 44.3% to
HK$353.8 million, driven by EBITDA margin expansion from 21.1% in
FY06 to 31.0% in FY07. Successfully delivering on a premium pricing
policy via technology and customer service differentiation, our
FTNS business continues to grow into our core business of the
Group, generating 71.6% of total revenue. The Board has recommended
paying a final dividend of HK$4 cents per share, inclusive of a
script or cash option. "This year's satisfactory results were
largely driven by our well-defined strategies and the unmatched and
unique performance capabilities of our broadband service. With the
uprising trend of bandwidth demand and our operation efficiency, we
expect that the strong growth of our broadband service is here to
stay and is set to expand even faster," said Ricky Wong, chairman
of CTI. "Our strong growth this year is the best evidence that more
and more consumers have come to realize the need for high
bandwidth, and understand the trend on broadband service
development. Consumers are more willing to pay a premium to switch
from the services offered by other Internet Service Providers to
HKBN," Mr. Wong said. For full press release, please refer to our
home page http://www.ctigroup.com.hk/en/. For enquiries, please
contact: Corporate Communications Ms Jessie Cheng Tel:
+852-3145-4118 Email: DATASOURCE: City Telecom (HK) Limited
CONTACT: Ms Jessie Cheng of City Telecom (H.K.) Limited,
+852-3145-4118, or Web site: http://www.hkbn.net/
http:/www.ctihk.com
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