City Telecom Announces Interim Results 2011

HONG KONG, April 20, 2011 (GLOBE NEWSWIRE) -- City Telecom (H.K.) Limited ("The Group") (HKSE:1137) (Nasdaq:CTEL) today announced interim results for the 6 months ended 28 February 2011. Financial performance for 1H FY2011 proves that the Group is very much on track for higher profitability driven by Fixed Telecommunications Network Service (FTNS) business, as well as lower financial costs. The Group declared an interim dividend of HK15 cents per ordinary share, up 131% from HK6.5 cents per ordinary share for the same period last year.

Highlights :

• Net profit up 44.0% year-on-year to HK$167.6 million with basic earnings per share amounted to HK$21.9 cents versus HK17.3 cents for same period last year
• Declared an interim dividend of HK15 cents per ordinary share, up 131% from HK6.5 cents per ordinary share for same period last year
• Core EBITDA increased by 16.7% year-on-year to HK$301.6 million
• Turnover grew by 5.1% year-on-year to HK$825.9 million driven by higher revenue contribution from our Fixed Telecommunications Network Service (FTNS) business of 7.6% year-on-year to HK$727.2 million
• For six months to 28 February 2011, broadband subscription increased by 25,000 net additions to 551,000, dominating 68% of total estimated market growth of 37,000

Chairman of the Group, Mr. Ricky Wong ("Mr. Wong"), said, "First of all, I would like to thank my talented team for their hard work and their contribution to the splendid performance of our Group for 1H FY2011. I expect that the financial performance for 2H FY2011 will be equally satisfactory."

For full press release, please visit

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Webcast and replay for analyst presentation can be viewed at . Materials of this interim results announcement, such as presentation slides and press release can also be found at the above website.

For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

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 1,100,000 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 around 3,000 Talent force into a competitive advantage. Additional information on City Telecom can be found at

CONTACT: Corporate Communications Jessie Cheng Tel: +852 3145 4118 Fax: +852 2199 8372 Email: chengcm@ctihk.com Investor Engagement Peggy Chan Tel: +852 3145 6068 Fax: +852 2199 8655 Email: investor_engagement@ctihk.com