CTM revenues up 36 pct y-o-y in 2018

By
Jane K.C Wong

Macau (MNA) – Revenues of local communication provider Companhia de Telecomunicações de Macau (CTM) increased 36 per cent year-on-year to nearly MOP4.86 billion (US$600.94 million) in the year ended December 31, 2018, according to the company’s annual results published in the Office Gazette on Wednesday.

CTM’s profits also increased 7 per cent year-on-year to MOP941 million.

The company claimed that growth in revenue was mainly due to a 109 per cent increase in sales of mobile and other equipments, though revenue from other services only increased 1 per cent in 2018.

Mobile services recorded an increase of 5 per cent, while internet services and data centres, as well as circuit rental services, raised 4 per cent.

However, international fixed dialing services declined 37 per cent, while business services and local fixed dialing services also decreased 7 per cent and 3 per cent, respectively, also partially offseting the revenue.

Moreover, the company reported that cost of sales increased 74 per cent year-on-year, mainly due to the growth in sales and mobile and other equipment services.

CTM also indicated that its mobile customers decreased 2 per cent while the number of mobile broadband subscribers raised 8 per cent last year.