[SatNews] Up, up and up — good movement for this firm's financials...

Asia Satellite Telecommunications Holdings Limited (“AsiaSat” – SEHK: 1135) has announced its 2010 annual results for the year ended December 31, 2010.

The financial summary...

• Turnover HK$1,456,222,000 +25 percent
• Profit attributable to shareholders HK$694,590,000 +32 percent
• Earnings per share HK$1.78 +32 percent
• Proposed final dividend per share HK$0.45 +41 percent
• Debt free

Operational highlights...

• Record results generated largely by core businesses
• Overall utilization rate up 8 percent to 73 percent
• Turnover of the wholly-owned subsidiary SpeedCast up 21 percent and profit up 64 percent
• Direct-to-Home joint venture DISH-HD Asia Satellite launched in Taiwan
• AsiaSat 7 on schedule for fourth quarter launch

AsiaSat's Executive Chairman, Peter Jackson, said, “For our business, the two key drivers of long-term growth remain the technological advantages that satellites offer over terrestrial systems as a platform for the broadcast industry, and a healthy level of competition across multiple platforms within Asia‟s television, internet and mobile telecommunications markets.” “For AsiaSat, the Company is well managed and continues to deliver high quality satellite capacity supported by an unmatched level of customer service. We remain optimistic and are encouraged by the future prospects for growth.” To read the entire financial report, access this direct download link.