TeleGeography Logo

i-Cable’s losses widen, Wharf T&T’s EBIT falls

1 Sep 2010

Hong Kong triple-play cable operator i-Cable posted a 12% year-on-year increase in revenues to HKD962 million (USD124 million) in the six months ended 30 June 2010, largely boosted by pay-TV services, but its operating (EBIT) loss widened to HKD107 million from HKD1 million in 1H09, partly due to non-core investment write-downs and non-recurring programming costs of screening the FIFA World Cup. Cable TV subscriptions increased by 9% to 1.086 million at end-June 2010, whilst cable broadband internet subscribers decreased by 6% to 234,000 in the face of tough competition from rival direct fibre and xDSL services.

i-Cable’s sister company in the business user sector, Wharf T&T, reported that its revenues also saw an increase in the six-month period, reaching HKD833 million as it said the ICT business sidestepped the worst after-effects of the global financial crisis on the back of pent-up demand. However, its 1H10 operating profit of HKD95 million was down from HKD132 million in 1H09. Wharf T&T added that it is making additional investments in the enterprise segment to ‘extend its network reach to 95% of the sector’s footprint by 2012,’ and its CAPEX in January-June 2010 totalled HKD119 million, similar to i-Cable’s HKD120 million spending in the same period.

Hong Kong, i-Cable, WTT (formerly Wharf T&T)

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.