AsiaSat reports steady H1
August 24, 2012
By Chris Forrester
Hong Kong-based satellite operator AsiaSat has reported that its first-half trading was flat in terms of revenues. AsiaSat said it was looking how best to utilise its new AsiaSat 7 craft ahead of its need to replace AsiaSat-3S around 2014.
For the six months ending June 30th, AsiaSat reported revenue of nearly 1.1 billion Hong Kong dollars ($141.1 million), a 37 per cent increase from the same period last year. However, this seemingly attractive top-line figure includes a one-time payment of HK$296 million from customers affected by a new Indian finance law where AsiaSat has a large client base.
Stripping out this one-time gain, AsiaSat’s trading was flat and company chairman Ju Wei Min said this represented good news considering the state of US and international economic turmoil.