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City Telecom (CTEL) Announces 12 Months 31 August 2007 Annua

-- The year to 31 August 2007 was one of the best years in our 15-year history, in terms of the strong cash flow as our Earnings Before Interest, Taxation, Depreciation and Amortization (EBITDA) grew by 44.3% to 大发体育娱乐在线HK$353.8 million.

-- EBITDA margin expanded from 21.1% in FY06 to 31.0% in FY07.

-- During the year, total subscription base for Fixed Telecom Network Services (FTNS), including all registered paid and free, on-net and off-net subscriptions, increased by 66,000, with growth accelerating to 42,000 additions in second half of the year.

-- Profit attributable to shareholders at HK$28.9 million in FY07, compared with a loss of HK$92.2 million.

HONG KONG, Nov. 22 /Xinhua-PRNewswire-FirstCall/ -- City Telecom (HK) Limited (SEHK: 1137 and Nasdaq: CTEL, "The Group") today announced a turnaround on profit attributable to shareholders to HK$28.9 million in FY07, from a loss of HK$92.2 million in FY06. The Group's EBITDA grew strongly by 44.3% to HK$353.8 million, driven by EBITDA margin expansion from 21.1% in FY06 to 31.0% in FY07. Successfully delivering on a premium pricing policy via technology and customer service differentiation, our FTNS business continues to grow into our core business of the Group, generating 71.6% of total revenue. The Board has recommended paying a final dividend of HK$4 cents per share, inclusive of a script or cash option.

"This year's satisfactory results were largely driven by our well-defined strategies and the unmatched and unique performance capabilities of our broadband service. With the uprising trend of bandwidth demand and our operation efficiency, we expect that the strong growth of our broadband service is here to stay and is set to expand even faster," said Ricky Wong, chairman of CTI.

"Our strong growth this year is the best evidence that more and more consumers have come to realize the need for high bandwidth, and understand the trend on broadband service development. Consumers are more willing to pay a premium to switch from the services offered by other Internet Service Providers to HKBN," Mr. Wong saiAAAAAAAA> For full press release, please refer to our home page http://www.ctigroup.com.hk/en/.

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