Local telecom provider CTM has reported about MOP1 billion (US$125.2 million) in net profits for 2019, a 7 per cent year-on-year rise from the year prior.
Revenue generated by the company dropped 13 per cent year-on-year to MOP4.2 billion, a fall attributted to a 30 per cent drop in sales of mobile phones and other equipment.
Still, last year expenses incurred by CTM fell by 3 per cent year-on-year to some MOP3 billion, as cost of direct sales decreased by 24 per cent over the previous year, due to the reduction in the sale of mobile phones and other equipment
CTM also indicated it has invested MOP240 million in investment projects throughout 2019, less MOP47 million than in the previous year, with most of its investment going to the expansion of the main networks, in particular LTE (4G), Internet and leased lines and the development of the Customer Support Management System.
CTM also plans to achieve 5G outdoor full coverage by the end of June, with the first phase of the network development costing over MOP600 million (US$75.1 million) and making Macau the first city in Asia to have full 5G outdoor coverage.