City Telecom reports fall in revenue for fiscal year 2005

22 Nov 2005

City Telecom (HK) has reported a fall in group revenue of 2.8% year-on-year to HKD1.14 billion, and a net loss of HKD206.4 million for the fiscal year ended 31 August 2005. The net loss is mainly due to the reduced profitability of its international telecoms services and increasing costs of marketing Fixed Telecoms Network Services (FTNS). FTNS made up 53.2% of the company’s total revenue, with its subscription base for voice, broadband and pay-TV services growing by 166,000 to 631,000, a 35.7% year-on-year increase.

Hong Kong, Hong Kong Broadband Network (HKBN)