City Telecom (including Hong Kong Broadband Network [HKBN]) has released its annual results to the end of August 2011, a year in which its net profit shot up by 44.7% to HKD313.9 million (USD40.4 million) and EBITDA climbed 26.6% to HKD594.1 million. Total turnover grew by 6.8% to HKD1.682 billion, driven entirely by the group’s Fixed Telecommunications Network Services (FTNS) business area. FTNS revenue growth of 9.5% to HKD1.484 billion offset a 9.8% drop in the group's formerly core international direct dial (IDD) business to HKD198 million
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OVETEL City Telecom’s net profit up 44.7%
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