i-CABLE Communications Faces Rising Losses Amid Cost Cuts

i-CABLE Communications (HK:1097) has released an update.

i-CABLE Communications Limited reported a revenue increase in the media segment by 37% during the first half of 2024, despite a challenging economic rebound and competitive market pressures leading to a decrease in broadband and telephony customers. The company experienced a significant 29% rise in losses compared to the same period last year, reaching HK$255 million. However, the company has implemented cost-saving measures which have successfully reduced total operating expenses by approximately 18% from the latter half of 2023.

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