City Telecom (H.K.) Limited
City Telecom (H.K.) Limited is a provider of residential and corporate fixed telecommunications network and international telecommunications services in Hong Kong and Canada.
See more information about City Telecom (H.K.) Limited
City Telecom predicts profit attributable to shareholders could increase 50pct
City Telecom（HKG: 1137, Nasdaq: CTEL）announced early this morning that profit attributable to shareholders may increase by more than 50 percent for the year ended 31 August 2009.
For the fiscal year, turnover is also estimated to increase by more than 10 percent and EBITDA by 30 percent.
The increases are primarily due to the improvements of its fixed line network business and the net gain in senior notes buyback and cancellation, the announcement said.
City Telecom's wholly-owned subsidiary, Hong Kong Broadband Network Limited (HKBN), is in the process of expanding its next generation network from approximately 1.55mn to 2.0mn homes pass. HKBN has achieved an aggregate Voice, Broadband (symmetric 25Mbps up to 1Gbps), IP-TV services base in excess of 872,000 subscriptions.
The company's Hong Kong shares rose this morning after a low opening. As of 12:30, shares advanced 2.80 percent to HK$2.57.
