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City Telecom (Hong Kong)

City Telecom (HK) Limited
Company nameCity Telecom (H.K.) Limited
Company typeTelecommunication
IndustryTelecommunications
Founded1992
HeadquartersHong Kong
Key peopleChairman: Mr. Ricky Wong Wai Kay
ProductsCTI IDD 1666, 888 International Calling Card, International Call Forwarding Service, ID16+, Get Fax Easy HKBN Broadband, HomeTel, bbTV, 2b 2nd Generation Broadband Phone, IDD0030
Employees3000

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City Telecom (H.K.) Limited (CTI, ) (Sehk - 1137, Nasdaq - CTEL) was established in 1992. It is a provider of residential and corporate fixed network and international telecommunications services in Hong Kong, currently the second largest provider of broadband internet in the country. CTI played a significant role in liberalizing the international telecommunications market monopoly in Hong Kong since their launch of services.

CTI’s wholly owned subsidiary, Hong Kong Broadband Network Limited ("HKBN"), is a major fixed telecom network services operator, providing the world's fastest residential 1 Gbit/s, 200Mbit/s, 100Mbit/s, 50Mbit/s and 25Mbit/s broadband Internet access, telephony, IP-TV and corporate data services with their self-built Metro Ethernet IP network, which is the largest alternative end-to-end network in Hong Kong. Since their establishment, the Group has aggressively marketed itself and its services to capitalize on the growth and deregulation of the Hong Kong telecommunications market. HKBN is the first ISP to deploy Fibre-To-The-Home (FTTH) in the local residential market in September 2007 while the other competitors still predominately use copper wires for their last mile.

City Telecom was listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1137) in August 1997 with an ADR Listing on the Nasdaq National Market (Ticker Symbol: CTEL) in the US in November 1999. In addition to the operations in Hong Kong, the Group also has branch offices in Canada and Guangzhou.

The Group had the strongest turnover growth since FY2000, with the consolidated turnover grew by 14.2% year-on-year to HK$1,303.0 million for the year ended 31 August 2008. This solid growth was primarily contributed by their increase in Fixed Telecommunications Network Service business (FTNS) of 23.8% to HK$1,011.0 million. Besides, the Group’s profits attributable to their shareholders increased by 333.2% to HK$125.2 million with basic earnings per share reaching HK$19.7 cents.


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