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City Telecom (CTEL) Announces 12 Months 31 August 2007 Annual Results

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-22

HONG KONG, Nov. 22 /Xinhua-PRNewswire-FirstCall/ -- City Telecom (HK)Limited (SEHK: 1137 and Nasdaq: CTEL, "The Group") today announced aturnaround 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 by44.3% to HK$353.8 million, driven by EBITDA margin expansion from 21.1% inFY06 to 31.0% in FY07. Successfully delivering on a premium pricing policy viatechnology and customer service differentiation, our FTNS business continuesto 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-definedstrategies and the unmatched and unique performance capabilities of ourbroadband service. With the uprising trend of bandwidth demand and ouroperation efficiency, we expect that the strong growth of our broadbandservice 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 moreconsumers have come to realize the need for high bandwidth, and understand thetrend on broadband service development. Consumers are more willing to pay apremium to switch from the services offered by other Internet ServiceProviders to HKBN," Mr. Wong said.

For full press release, please refer to our home page.

    For enquiries, please contact:     Corporate Communications     Ms Jessie Cheng     Tel:   +852-3145-4118     Email:

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