AsiaSat Sees Revenues Rise, Profits Fall
[Satellite Today 08-18-08] AsiaSat saw its revenues increase 6 percent in the first half of the year to 487 million Hong Kong dollars ($62.4 million), the operator announced Aug. 15. However, profits slipped from 247 million dollars ($31.6 million) in the first half of 2007 to 223 million dollars ($28.6 million) for the first six months of 2008.
AsiaSat attributed the decline to the inclusion of a loss of 2 million dollars ($256,000) recorded by SpeedCast in first half of the year, an impairment provision of 14 million dollars ($1.8 million) and a reduction in interest income of about 18 million ($2.3 million) owing to the continued fall in bank deposits interest rates.
AsiaSat has a new satellite, AsiaSat 5, under construction in the United States and also is planning AsiaSat 6.