Hunan TV & Broadcast Intermediary Profits Surge 1105%
Oriental Morning Post, 3/26/08
Hunan TV & Broadcast Intermediary (000917.SZ) has issued its earnings report for the year ended December 31, 2007, with net income increasing 1104.84% from the previous year.
In 2007, the company achieved operating revenues of RMB 2.65 bln, an increase of 29.37% from RMB 2.05 bln the previous year. Profit from its core operations was RMB 249 mln, up 1701.83% from RMB 15.54 mln the previous year. Net income was RMB 113 mln, an increase of 1104.84% compared to RMB 11.28 mln in 2006.
The company stated that there were three main reasons for the dramatic increase in these figures. Firstly it helped found the Hunan Cable TV Network Group whose results are consolidated into these figures. Secondly the company rapidly increased the digitization of its cable TV network, increasing its profits from cable TV network services. Thirdly, in 2007, the company's investments in new ventures achieved reasonably successful results.
Keywords: fiscal report revenue DTV 000917.SZ 2007 cable TV Hunan Hunan Cable TV Network Hunan TV & Broadcast Intermediary profit television consolidation
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