AsiaSat records US$221 million turnover in 2011, a rise of 18% compared with the previous year

Asia Satellite Telecommunications Holdings Limited (“AsiaSat” – SEHK: 1135), Asia’s leading satellite operator, announced its 2011 annual results for the year ended 31 December 2011.

The reported turnover in 2011 was HK$1,718 million (US$221million), representing a rise of 18% compared with the previous year.

AsiaSat’s Chairman, JU Wei Min, said the increase came from the continued growth of core business, bolstered by winning significant contracts from new customers. In addition, SpeedCast, the wholly-owned subsidiary, reported revenue of HK$239 million (US$31 million) as a result of steady demand from customers in the broadband and maritime sectors.

“Despite the continuing global economic uncertainties, we are cautiously optimistic that AsiaSat’s markets will remain stable throughout 2012. We are therefore adopting a positive outlook for the core business in 2012, during which we will continue to develop our business in new and existing markets. Our business will focus chiefly on new opportunities being pursued in relation to continuing growth in HD services and the healthy expansion of the DTH business.”