City Telecom (1137) (Recommended Purchase) announced a 57.5% increase in net profit in the medium term to 75.3 million, mainly due to the increase in the number of customers and the increase in consumption levels. During the period, turnover increased 15.6% to 721 million. Broadband subscribers rose 25% to 350,000, while average consumption rose 10.7% to $196. The Group also has 352,000 fixed network subscribers and 170,000 television subscribers. CTI currently accounts for 18% of the local broadband user market, second only to PCCW's 50%. Despite intense competition in the broadband market, the Group maintained its strategy of maintaining the high price market.

Target $1.8

Stop erosion at $1.55