AsiaSat sees 8% fall
September 1, 2015
By Chris Forrester
Hong Kong-based AsiaSat saw an 8 per cent fall in revenues for its half-year trading period ending June 30th. It blamed the poor results, released on August 27th, on “rough” local market conditions and delays in obtaining licenses to operate its latest pair of satellites.
On the much more positive side it saw its all-important contract backlog rise 3.7 per cent (to HK$3.65 billion) in the past six months. Fill rate was 72 per cent.
Revenues for the half-year were HK$641 million (€73.4m), with operating profit down 11 per cent
“Excess capacity and flattening demand in certain markets put downward pressure on pricing that will likely persist into the near future until that capacity is absorbed,” AsiaSat said.
The operator has 6 satellites in its fleet with its two new craft (AsiaSat-8 and AsiaSat-6) launched in August and September last year. Its next satellite, AsiSat-9, is slated for launch later in 2016.