Macau: Companhia de Telecomunicações de Macau posts profit of US$82 million in 2007

19 June 2008

Macau, China, 19 June – Macau telecommunications company Companhia de Telecomunicações de Macau (CTM) in 2007 posted profit of 656 million patacas (US$82 million), a year on year rise of 20 percent, according to the company’s annual report and accounts published in the Official Macau Bulletin.

In 2007, the company’s gross revenue rose 9 percent to 2.288 billion patacas, a rise of 188 million patacas against the previous year.

The most significant rise in revenue was related to the Internet, which rose some 27 percent and accounted for around 62 million patacas of the overall increase.

CTM’s Business Solution and Rented Lines areas respectively contributed, 45 million and 35 million patacas to gross revenue.

At the end of 2007, CTM had 178,013 fixed lines and 356,775 mobile lines, which represented a rise of 10 percent on 2006.

In its annual report, CTM noted that it had a concession to operate public telecommunications services until 2011, “with rights to operate exclusively local and international fixed line, voice and data transmission services.”

CTM is a subsidiary of UK company Cable and Wireless, which has a 51 percent stake in the company, while Portugal Telecom owns 28 percent, CITIC Pacific Ltd owns 20 percent with the remaining one percent in the hands of the government of Special Administrative Region of Macau. (macauhub)