Vodatel announced HK$78.2 million profit
[27 September, 2000, HONG KONG] - Vodatel Networks Holdings Limited (8033), the first Macau-based company listed on GEM in February this year announced that the company's profit for fiscal year ended 30 June, 2000 increased from HK$71.2 million to HK$78.2 million, representing an improvement of 9.8% over last year. Turnover for the full year recorded a slight growth of 0.8%, reaching HK$ 482.3 million. A final dividend per share of 1.5 HK cents is proposed.
The company's core networking business remains an area of high market demand. Major projects during the fiscal year included the HK$69 million contract awarded by the Henan PTA to construct an Integrated Broadband Access Data Networks for the Henan Province, and aggregate contracts of HK$91 million awarded by the Guangdong PTA to expand their narrowband and broadband networks. During the year, Vodatel was selected by US-based Juniper Networks to represent their routers in China, Hong Kong and Macau. In April, the company acquired 40% of Vodatel Crossland to strengthen the group's R&D capability in e-commerce solutions and hardware applications. In June, it partnered with Korean-based LG to form LG TOPS to engage in the manufacturing of CDMA products in China.
Chairman Mr. Jos
Manuel dos Santos said: "China's entering into WTO will certainly provide a golden opportunity for many companies. We see ourselves as an effective channel for foreign telecom and networking investors to establish their foothold into this huge potential market." Commenting on the future, Mr. Santos said: "Technology is never ending as it will initiate new market demands and new market demands will drive new technology. Our mission is to build shareholders' value, therefore we will continue to focus on our core networking business by introducing advanced and innovative value-added service to our existing and new clients and to capture new market opportunities through acquisitions, joint ventures and collaborations."
Established in 1992, Vodatel is one of the leading network solution providers in the PRC, specializing in DDN, Frame Relay, ATM and IP technologies. The Company provides fully integrated services ranging from network planning, design, installation to implementation, as well as maintenance and after-sales technical support to public telecommunications service providers and enterprise customers. Since its establishment, the Company has built up its long-term relationships with its premium customers, including China Telecom, administered by the Ministry of Information Industry of the PRC, as well as enterprises in the PRC and Macau markets.
This release is issued on behalf of Vodatel Networks Holdings Limited by Successful Consultants Limited. For further enquires, please contact:
| Vodatel Networks Holdings Limited Mr. Richard Yim/ Ms. Monica Nunes | Successful Consultants Limited Ms. Mia Wong |
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