i-CABLE 2007 net flat vs year ago

Hong Kong pay tv operator i-CABLE Communications Ltd<1097> said on Monday its net profit stood at HK$182 million last year, almost the same as 2006's HK$182.1 million.

The figure beats the average estimates, HK$178 million which was predicted by four analysts in a survey conducted by Thomson Financial.

Its revenue in the same period was HK$2.3 billion, down 11% compared with HK$2.55 of 2006, the company said in a statement published yesterday, adding that the dividend for 2007 remained unchanged from the previous year at HK$0.05.

The Group, founded in 1999, owns and operates one of the territory's two near universal telecommunications networks, provides Pay TV service and creates its own contents that cater to local tastes. It also offers Broadband internet access service via its Internet Protocol (IP) overlay network.