Phoenix 1H Revenue +41.8%, Profit +6.6%

Date:2011-08-23chenshi  Text Size:

Phoenix Satellite Television Holdings Limited announced today the company’s interim results for the first half of 2011. During this period revenue increased 41.8% to HK$1,562,341,000 and the operating profit increased 6.6% to HK$283,176,000.  The Non-GAAP profit attributable to owners of the Company increased substantially as well.  The Chairman and Chief Executive Officer of Phoenix Satellite Television Holdings Limited, Mr. Liu Changle, announced that in the light of the substantial increase in profit, the Board resolved that a special dividend of 3.8 Hong Kong cents per share be distributed.

The first half of 2011 continued to be an extremely active period for Phoenix TV.  Phoenix InfoNews followed and reported a series of dramatic international developments, ranging from the earthquake and tsunami in Japan, the crisis at the Fukushima nuclear plant, to the uprisings and disturbances in Libya, Tunisia,Syria and Egypt.   Even in the face of serious dangers, including the Nato forces bombing targets in Tripoli, and on one occasion a reporter being threatened by a pro-Gaddafi fighter armed with a knife, Phoenix's front-line reporters still sent back first-hand news.

At the same time, during this half-year period, Phoenix also enjoyed many major public events, including holding galas, award ceremonies and forums in late March in Beijing and Hong Kong in order to celebrate the 15th anniversary of the creation of Phoenix Satellite Television.

In late March 2011 Phoenix opened a new channel, the Phoenix Hong Kong Channel which broadcasts in Cantonese to Hong Kong as well as the domestic and overseas Cantonese audiences.  A Mandarin digital radio service comprising news broadcasts and entertainment, Phoenix U Radio, is ready to be launched later as well.

The revenue generated by outdoor media business for the first half of 2011 increased to approximately HK$143,486,000.

Phoenix New Media Limited ( was listed on the NYSE in May this year.  As all Preferred Shares were converted at the time of listing, there would not be any non-cash fair value gain/loss or interest accretion in the future.

As a consequence of the fact that the Company’s equity grew by a substantial amount following the listing of Phoenix New Media Limited, the gain derived from the financing of outdoor media business and the fact that liquidity and financial resources of the Group remained solid, the Board of Directors has decided to distribute a special dividend of 3.8 Hong Kong cents per share.

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