HK iLink Holdings Ltd. 1Q Losses HK$3.96M Vs HK$7.10M
Dow Jones Newswires
May 10, 2001
Dow Jones Newswires
iLink Holdings Ltd. - Hong Kong
3 Months Ended March 31:
2001 2000
After-Tax Profit (HK$3,964,000) (HK$7,103,000)
Revenue 21,283,000 1,015,000
Per Share
Earnings (0.5 cents) (8.9 cents)
1Q Div omitted omitted
Figures in parentheses are losses.
HONG KONG -- Data center operator iLink Holdings Ltd. (H.ITK) said Wednesday net loss for the first quarter this year narrowed 44.2% to HK$3.96 million from HK$7.10 million in 2000.
The Growth Enterprise Market-listed company, controlled by beleaguered telecom giant Pacific Century CyberWorks Ltd. (H.PCW), said revenue rose almost 20 times to HK$21.3 million from HK$1 million last quarter.
Loss per share narrowed to 0.5 Hong Kong cent from 8.9 Hong Kong cents last quarter.
The company didn't pay a dividend for the first quarter.
iLink Holdings said internet connectivity, server hosting and co-location services contributed HK$12.5 million to revenue of HK$21.3 million. In the year-ago period these services contributed HK$403,000 to revenue of HK$1.02 million.
iLink Holdings was listed on Hong Kong's secondary board on March 9 this year.
In the listing prospectus released earlier, the company warned of the likelihood of continued losses as its expansion plans will demand significant capital expenditure.
iLink Holdings raised HK$140.8 million through a placement to institutional investors prior to the listing, which it said would be used to build data centers in China and other parts of Asia.
At 0414 GMT (12.14 a.m. EDT) iLink shares were up 0.76%, or 1 Hong Kong cent, at HK$1.32.
-By Georgina Lee, Dow Jones Newswires; 852-2802-7002; georgina.lee@dowjones.com
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