Television

Asiasat reports 24 per cent decline in profits

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2015/12/01/Untitled-1_12.jpg?itok=zYITOkLI

MUMBAI: Satellite operator Asiasat has announces its 2003 annual results. Profit amounted to HK$424 million. In 2002 the figure was HK$555 million. This represents a significant reduction of 24 per cent from the previous year.

 

Turnover for the year was HK$896 million. In 2002 the figure stood at HK$951 million representing a decline of six per cent. The company atrbuted the performance to slow growth in new demand, business contraction of some customers, and continuing price pressure on new leases and renewals.



The company added that the restrictions on travel resulting from the continued existence of Sars affected its ability to market and serve new and existing customers throughout the Asian region. At the peak of Sars almost all marketing activities came to a halt..The regional transponder market remained sluggish, lagging behind the early signs of economic improvement in some Asian markets.



While the results were disappointing the company maintained that they were in line with its earlier indications. The above mentioned decline in profit was attributable mainly to the anticipated increase in depreciation on the new AsiaSat 4 and increased in-orbit insurance costs. All this went hand in hand with the decrease in turnover and an additional provision of deferred tax for both current and prior years. This arose as a result of the increase in the Hong Kong tax rate from 16 per cent to 17.5 per cent on 1 April 2003.



Asiasat admitted that its strategy to achieve organic growth, and growth through acquisition and partnership was held back by the poor economic climate and the failure of identified targets to meet the investment criteria. On a more positive note the company continued to benefit from strong cash flow from its operations. It generated a net cash inflow of HK$253 million (2002: HK$270 million) after paying capital expenditure of HK$162 million (2002: HK$440 million) and dividends of HK$203 million (2002: HK$78 million). At the end of 2003, the Group had a cash balance of HK$659 million (2002: HK$406 million).



The launch and commissioning of Asiasat 4 is incurring additional costs for the group at a time when markets have remained soft. The short-term impact is negative. However for the longer term, the addition of Asiasat 4, which has a life expectancy of over 15 years places the group as a strong provider in the market with the significant growth potential states a company release.



Looking to this year the company has reiterated the fact that its business was long-term in nature, and that the positive factors that drive demand remain in place. They are television distribution and increasingly in more developed markets, High Definition Television, and telecommunications networks that need connectivity over wide geographic coverage, at a fixed cost. This was where satellites succeed and terrestrial services cannot compete particularly in large and physically scattered regions like the Asia Pacific. On the flip side the company does not see material signs of improvement among regional operators, nor new entrants to the market that would enable the group to deliver stronger results this year as compared with last year.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/Nivedita-Oak.jpg?itok=75PAewjb
Times Television Network elevates Nivedita Oak to DGM

Times Television Network (TTN) has elevated Nivedita Oak to deputy general manager - influence. Earlier, Oak was the regional head for Zoom, FCT and branded content. She has been working with the Times Network for the last 11 years.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/pathan.jpg?itok=tah626ME
History TV18 to release third film in ‘Special Operations India' series

History TV18, a pan-Indian television channel, is to create a documentary on counter-terrorist operation at Pathankot air base named Special Operations India: Pathankot. This one-hour documentary will be aired on June 25 at 9 pm.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/cnbc.jpg?itok=opviMAi9
CNBC-TV18 successfully concludes the 8th edition of the ‘India Healthcare and Wellness Awards 2018’

NBC-TV18, India’s leading English business news channel along with ICICI Lombard hosted the 8th edition of the ‘Indian Healthcare and Wellness Awards 2018’ at The Grand Hyatt, Mumbai.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/mn.jpg?itok=QPriVkLO
MN+ to air Indian Television premier of ‘Tulip Fever’

MN+, the Gold Class of Hollywood Movies from the Times Network, brings to the viewers, for the first time on Indian television, the celebrated romantic historical saga– ‘Tulip Fever’. The movie will premiere on Sunday, 24th June at 1 pm and 9pm on MN+.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/india.jpg?itok=M2oqHiQO
Sony Music acquires the music rights for 2018’s much awaited sports drama film ‘SOORMA’

Global music giant, Sony Music has acquired the music rights for Soorma – the greatest comeback story of the hockey legend Sandeep Singh.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/vs.jpg?itok=pVjUI8CY
Epic and Rupa publications announce the umeed india book on the occasion of international olympic day

EPIC TV - India’s only Hindi language, Indian Infotainment channel celebrates International Olympic Day with an exclusive unveiling of the first look of the Umeed India book published by Rupa Publications and based on its popular series, of the same name hosted by ace cricketer Virender Sehwag.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/bbc.jpg?itok=gE0qxQNX
Iconic series Blue Planet II set for Indian TV premiere on Sony BBC Earth after a successful theatrical run

All eyes on TV as India’s #1 factual entertainment channel, Sony BBC Earth, premieres the world-renowned, path breaking and breath-taking series Blue Planet II for the Indian audience on June 25th at 9 pm.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/fox.jpg?itok=tK9XckqM
FOX Life celebrates a perfect celebrity mismatch in Great Escape’s new season

He’s rugged, she’s delicate. He’s adventurous, and she is spiritual. They are two friends who, at a distance, might seem like polar opposites. But get closer and you are sure to be surprised. FOX Life, India’s favorite premium lifestyle channel,

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/dev2.jpg?itok=LqKTXd3c
Engaging viewers with diversified content, COLORS brings you investigative thriller - Dev2

He thinks like a criminal, is at home around a crime scene and possesses an ironclad will to rid the city of nefarious wrongdoers; Detective Dev Burman returns for an explosive second season on COLORS – India’s premium Hindi entertainment channel.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories