APT ups revenues
August 24, 2022
By Chris Forrester
Bermuda incorporated APT Satellite reported its half-year results to the Hong Kong stock exchange saying that revenues grew helped by new business secured in Malaysia.
Revenues for the half-year to June 30th were HK$498.4 (€63.8m) up 10.75 per cent compared to the same period last year. Profits grew 11 per cent at HK$133.8 million.
The directors said they had invested in new Earth station gateways Hong Kong, Australia, Indonesia and Malaysia.
These investments had helped secure new business from Malaysia with new customers coming to APT as a result of a failed satellite (believed to be Measat-3 which suffered problems in June 2021).
Its Apstar-6E satellite, in which APT holds a 20 per cent equity share, is under construction by China Great Wall Industry Corp (CGWIC). Apstar-6E is scheduled for launching (by a Chinese rocket) in mid-2023.