City Telecom (NASDAQ:CTEL)

2011 Interim Results:

• Net profit up 44.0% year-on-year to HK$167.6 million with basic earnings per share amounted to HK$21.9 cents versus HK17.3 cents for same period last year
• Declared an interim dividend of HK15 cents per ordinary share, up 131% from HK6.5 cents per ordinary share for same period last year
• Core EBITDA increased by 16.7% year-on-year to HK$301.6 million
• Turnover grew by 5.1% year-on-year to HK$825.9 million driven by higher revenue contribution from our Fixed Telecommunications Network Service (FTNS) business of 7.6% year-on-year to HK$727.2 million
• For six months to 28 February 2011, broadband subscription increased by 25,000 net additions to 551,000, dominating 68% of total estimated market growth of 37,000

Chairman of the Group, Mr. Ricky Wong ("Mr. Wong"), said, "First of all, I would like to thank my talented team for their hard work and their contribution to the splendid performance of our Group for 1H FY2011. I expect that the financial performance for 2H FY2011 will be equally satisfactory."