City Telecom Announces Annual Results 2010
November 09 2010 - 4:10AM
City Telecom (H.K.) Ltd. ("City Telecom") (HKSE:1137)
(Nasdaq:CTEL), today announced annual results for the 12 months
ended 31 August 2010 (FY2010). The Group executed within the
guidance for FY2010, meeting the financial and operational targets
as set at the beginning of the financial year.
"Key performance indicators for the Group's results for 12
months to 31 August 2010, in terms of record net growth of
broadband subscription, flat core EBITDA and assertive network
coverage expansion have all met our targets set one year ago,"
chairman of City Telecom, Ricky Wong said.
"Firstly, we achieved record broadband subscription net
additions of 135,000 to 526,000 as of 31 August 2010, i.e. 34.5%
year on year growth, mainly by taking market share in a saturated
market. Secondly, we have maintained core EBITDA essentially flat
at HK$479.1 million (HK$469.4 million add back HK$9.7 million loss
on extinguishment of 10-year senior notes). Lastly, our network
coverage has been extended by 150,000 to 1.77 million home passes
as of 31 August 2010, according to our plan," he added.
Highlights :
- Record broadband subscription growth of 135,000 net additions
during the year to 526,000 as of 31 August 2010
- Total turnover grew by 6.5% year-on-year to HK$1,574.7 million
due to strong Fixed Telecommunications Network Services (FTNS)
turnover growth of 10.2% year-on-year to HK$1,356.1 million
- Maintain a stable core earning before interest, tax,
depreciation and amortization ("EBITDA") of HK$479.1 million
despite the record broadband subscription growth and associated
acquisition costs
- Net profit attributable to shareholders for FY2010 reached
HK$216.9 million, compared to HK$212.8 million in FY2009
- Declared a final cash dividend of HK13.5 cents per ordinary
share bringing full year dividend to HK20 cents per ordinary share
(FY2009 : HK19 cents per ordinary share)
For live webcast and replay for analyst presentation can be
viewed at http://ir.ctigroup.com.hk/eng/ir/results.php. Materials
of this annual results announcement, such as presentation slides
and press release can also be found at the above website.
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 1,110,000 subscriptions for broadband, local
telephony and IP-TV. 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
over 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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