Asia Satellite Telecommunications holdings limited announcement of annual results

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By indiantelevision.com Team Posted on : 21 Mar 2014 12:18 pm

MUMBAI: Asia Satellite Telecommunications Holdings Limited (‘AsiaSat’ – SEHK: 1135), Asia’s leading satellite operator, today announces its 2013 annual results for the year ended 31 December 2013.
A YEAR OF CHALLENGE AND OPPORTUNITY
 
Financial Summary:

*  Turnover from continuing operations    HK$1,498,631,000*    -16%

*   Profit attributable to shareholders from continuing operations HK$747,520,000 -4%

*  Earnings per share from continuing operations    HK$1.91 -4%

*   Proposed final dividend per share

*   Proposed special dividend per share    HK$0.80 HK$1.50    No change +50%
 
* 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
 
Operational Highlights:

*  AsiaSat 6 and AsiaSat 8 on schedule for launch in mid 2014 to provide new C and Ku-band capacity for business growth

*  AsiaSat 7 to fully replace AsiaSat 3S in Q2 2014 to offer enhanced power and coverage at 105.5?E

*  Commencement of the preliminary design phase for AsiaSat 9, the AsiaSat 4’s replacement in 2017 to provide new coverage and services at 122?E

*  New customer acquisitions and service expansion of existing customers reinforced AsiaSat’s leadership position in broadcasting service

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.”
 
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