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Asia SatelliteTelecommunications Holdings Limited announces 2010 annual results

2011-04-25 11:26:00

On 24 March 2011, Asia Satellite Telecommunications Holdings Limited announced its 2010 annual results for the year ended 31 December 2010.

According to the Annual Report, while economic uncertainty continued to blight many parts of the world, it would appear that AsiaSat’s markets in the Asia-Pacific region generally have stabilized. The strength of the last six months enhanced the strong figures of the first half to set the 2010 year-end record.

Turnover in 2010 was HK$1,456 million, an increase of HK$293 million, 25% up from the previous year. The profit attributable to shareholders for 2010 was HK$695 million, up 32%.

Overall, compared to the strong performance of 2009, turnover in 2010 increased significantly. On one hand, Asian economies have stabilized and are now making good progress. On the other hand, the implementation of new applications across the region has driven growth in new services. While consumer appetite both for additional and superior content is generating additional demand, and prompting changes in government legislation, the development of new business has been strong.

At the forefront of developing new services, during the year, AsiaSat launched new Direct-to-Home (DTH) project in Taiwan and renewed most of its existing major customer contracts that were due to expire, and attracted a number of excellent new customers. In June and July, AsiaSat played its part in facilitating the broadcast of 2010 FIFA World Cup, the most watched television event in history.

During 2010, AsiaSat’s in-orbit satellites performed well and delivered excellent service to its customers. As reported, a new satellite AsiaSat 7, formerly named AsiaSat 5C, is under construction in the U.S. and is progressing well, anticipated to launch in the fourth quarter of this year. The satellite is being built by Space Systems/Loral on the SS/L 1300 series satellite platform and will have a performance similar to that of AsiaSat 5.

As at end of 2010, the total number of transponders leased and sold on the company’s satellites, (excluding the former AsiaSat 2, now called AMOS-5i and leased to a single customer for exclusive use),  increased to 97 (31 December 2009: 85). The overall utilization rate was 73% (2009: 65%). This figure includes the six Broadcast Satellite Service (BSS) transponders dedicated to our DTH service and three transponders allocated for occasional use and Satellite News Gathering (SNG) services.

AsiaSat’s Executive Chairman, Peter Jackson, said, “For our business, the two key drivers of long-term growth remain the technological advantages that satellites offer over terrestrial systems as a platform for the broadcast industry, and a healthy level of competition across multiple platforms within Asia’s television, internet and mobile telecommunications markets.”

 “For AsiaSat, the Company is well managed and continues to deliver high quality satellite capacity supported by an unmatched level of customer service. We remain optimistic and are encouraged by the future prospects for growth.”

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