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2007-8-13 10:05:00 a.m. HKT, XFNA
Hong Kong i-Cable H1 net up 83 pct on pay TV subscriber growth, lower cost
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HONG KONG (XFN-ASIA) - i-Cable Communications Ltd said its first-half to
June net profit rose 83 pct year-on-year to 116 mln hkd, driven by growth in
its pay TV subscriber base and lower operating costs.
Despite losing the exclusive rights to broadcast the English premier
league football matches, its pay TV subscriber base grew by 6 pct
year-on-year to 830,000 in the six-month period.
Operating costs after depreciation of its pay TV business fell by 16 pct
year-on-year to 728 mln hkd, as a result of lower programming costs,
marketing and sales and depreciation charges, it said.
Sales dropped 7 pct year-on-year to 1.19 bln hkd, while operating costs
before depreciation fell 9 pct year-on-year to 884 mln hkd.
Earnings per share rose to 5.7 HK cents from 3.1 cents a year earlier.
The board has recommended an interim dividend of 3.5 HK cents, unchanged
from the year-earlier period.
(1 usd = 7.8 hkd)
emily.chow@xfn.com
ec/jc/net xfnjcc/xfnnt
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