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AsiaSat “cautiously optimistic” after solid first-half results

Satellite operator AsiaSat said it was “cautiously optimistic” about its medium-term future after posting significantly improved half-year results in line with its expectations.

The Hong Kong-based operator posted revenues of HK$690m (€69m), up 27% year-on-year. Profit attributable to shareholders was HK$305m, up 21%.

“The first half of 2010 was encouraging and our core businesses continue to perform well. The recent global economic downturn had relatively low impact on our industry and on AsiaSat in particular,” said executive chairman Peter Jackson. “That said, while not being complacent, we have full confidence in the services we provide as well as in our core financial strength, debt-free balance sheet and market-leading position. These assets will serve us well
in the future.”