Companhia de Telecomunicacoes de Macau posts profit of US$121 million in 2012

26 March 2013

Macau telecommunications company Companhia de Telecomunicações de Macau (CTM) posted net profit of 969 million patacas (US$121 million) in 2012, when revenues rose 24 percent to 4.92 billion patacas, the company’s chief executive said Monday.

Vandy Poon said that in 2012 the company had posted “satisfactory growth in all segments,” citing as an example the penetration rate of mobile phones, which reached 275 percent and growth of 18 percent in the number of mobile services customers.

The number of Internet services customers rose 5 percent, whilst mobile broadband customers rose 34 percent, which was a much greater rise than for any of the company’s competitors, he noted.

Vandy Poon said that CTM planned to expand coverage of the fibre optic network to all homes in the territory over the next 12 to 18 months, and which currently covers around 70 percent of homes.

The CTM chief executive also said that the process of buying shares owned by Cable & Wireless and Portugal Telecom by Citic Telecom International Holdings was due to be concluded in within the expected deadline, which is in the first half of this year.

With the acquisition, Citic Telecom International Holdings, the group that owned 20 percent of CTM before agreeing to buy the 28 percent owned by Portugal Telecom and the 51 percent owned by Cable & Wireless, will own 99 percent of CTM. (macauhub)