The Chairman and Chief Executive Officer of Phoenix Satellite Television Holdings Limited (Stock Code: 02008), Mr. Liu Changle, said today that he was pleased to announce the Company's annual results for the 2009 financial year. During this period the Phoenix Group continued to perform well, and while the global financial crisis posed challenge for the international media industry, the Group's revenue for the year ended 31 December 2009 was 9.9% higher than the previous year, reaching approximately HK$1,530,505,000. The profit attributable to equity holders increased to approximately HK$299,746,000, which was a 4.5% improvement over the profit achieved in 2008. The Board recommended a final dividend of HK$0.02 per share.
FINANCIAL SUMMARY
The Group's revenue for the year ended 31 December 2009 was approximately HK$1,530,505,000, which represented a 9.9% increase over the revenue earned in 2008. The two main drivers behind this result were the growth in both broadcasting and outdoor advertising revenue. Total operating costs increased by 8.4% to approximately HK$1,205,395,000. The upward movement in operating costs was mainly due to the expansion of outdoor media business and increase in staff, depreciation and programming costs.
The Group's operating profit for the year ended 31 December 2009 was approximately HK$325,110,000, which represented an increase of 16.1% over same period in the previous year. Profit attributable to equity holders of the Company was approximately HK$299,746,000, which was an increase of 4.5% compared with the same period last year. The operating profit was mainly generated by the increase in broadcasting and outdoor advertising revenue. Other income during 2009 mainly comprised a fair value gain of approximately HK$37,176,000 which was recognized for the investment property under construction.
For more information, please visit http://doc.irasia.com/listco/hk/phoenixtv/annual/2009/respress.pdf.
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