APT Satellite Announces 2008 Interim Results

 [Satellite Today 09-11-08]  In APT Satellite Holdings Ltd.’s unaudited interim first half 2008 financial reports, the company claimed that its turnover amounted to approximately HK$198 million ($25 million USD) compared to just over HK$230 million ($29 million)  in 2007.
    The provider reported profit attributable to equity shareholders amounted to just under HK$7 million ($900,000 USD). The company’s board has resolved not to declare any payment of interim dividend for the first half of 2008.
     APT’s Executive Director and President, Cheng Guangren, said, "The group’s five satellites, APSTAR VI, APSTAR V, APSTAR IIR, APSTAR IA and APSTAR I, together with their corresponding telemetry, tracking and control systems, have been operating under normal condition during the period."
    Looking ahead, Cheng added, "We expect the demand of transponder services to grow steadily in 2008. However, owing to the supply over demand in the region, market competition will still be fierce. The group will try to leverage its own competitive edge and high quality services and further expand the market so as to further increase the utilization of satellites, with a view to increasing profit and investment return."