Asiasat Reports Revenues Down 16% in 2013
Hong Kong, China, March 20, 2014-- Asia Satellite Telecommunications Holdings Limited reported that turnover was down 16% and profits attributed to shareholders down 4% for the year ended 31 December 2013 from the previous year. Turnover from continuing operations in 2013 was HK$1,498,631,000 (approximately US$ 194,822,000) and profits attributed to shareholders was HK$747,520,000.
Asiasat's 2012 turnover included HK$311 million as a one-off revenue resulting from the enactment of the Finance Act in India in May 2012. Excluding the one-off revenue, the 2013 turnover achieved was relatively flat when compared with the previous year, according to the company.
Asiasat also reported that AsiaSat 6 and AsiaSat 8 on schedule for launch in mid 2014 to provide new C and Ku-band capacity for business growth. The preliminary design phase for AsiaSat 9 has commenced. Asiasat 9 is AsiaSat 4’s replacement in 2017 to provide new coverage and services at 122ºE.
AsiaSat’s Chairman, Sherwood P. Dodge, said, “The launch of AsiaSat 6 and AsiaSat 8 will provide new revenue streams, as customers take advantage of the increased capacity which these powerful new satellites will bring.”
“Acquiring new business in 2014 will remain a top priority. Our expanding satellite fleet and reputation for providing quality and reliable satellite capacity together with our commitment to our customers puts us in an excellent position to develop new business opportunities. The market remains highly competitive, but I believe our able management team and our high-quality services will enable us to move the business forward in 2014,” added Dodge.
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