Green Packet Makes More Promises.... again.

Despite's Green Packet's 12th Consecutive Quarters Of Losses, 36 Month Of Losses ... , Green Packet continued its promises to the local investing market.

On today's Business Times:

• Green Packet Bhd, which recorded a revenue of RM394 million for financial year 2010, expects a 25 per cent increase this year. Its group managing director, CC Puan, said the revenue growth reflected the company's continuous efforts to expand network and market share locally and abroad.

25 per cent increase in sales revenue for current fiscal year?

Just for the record, for its fiscal year 2009, Green Packet had sales revenue of 217 million. Last night, Green Packet announced that its sales revenue soared to 394 million.

Yeah, mighty impressive growth with its sales revenue.

And what good has it done to its bottom line?

Nothing!

Can someome ask Green Packet what is their losses after tax this fiscal year????

And it continued to burn money drastically again despite of its 322 million Convertible Preference Share issuance to SK Telekom.

On Star Business: P1 confident of 450,000 subscribers

• Thus, it is also deferring its target of being EBITDA (earnings before interest, taxation, depreciation and amortisation) positive to end-2011, as it focuses to aggressively acquire nomadic customers from the mobile broadband segment.
  The nomadic segment refers to the mobile broadband services. Prior to this, P1 was focused on capturing market share from the fixed broadband segment.
  Previously, Green Packet had mentioned that it would be EBITDA positive in the first quarter of its financial year ending Dec 31, 2011.

LOLOLOLOLOLOL!!!!

This is getting seriously embarrassing!

Why continue make such empty promise when you can't deliver?

Let me add this new entry to the list of promises made previously. From the posting Green Packet: 11th Consecutive Quarters Of Losses, 33 Months Of Losses And....

• Feb 2008: we expect the WiMAX business to be ebitda (earnings before interest, taxes, depreciation and amortisation ) break-even this year,"
• May 2008: we are targeting EBITDA positive by end of next year.
• May 2009: P1 will be EBITDA will break-even from next year.
• Feb 2010: concurred that will be EBITDA positive in the second half of this year.
• May 10: the company remained optimistic that it will be able to achieve an Ebitda break even
• June 2010: Green Packet Bhd’s target to turn earnings before interest, tax, depreciation and amortisation (Ebitda) positive by year-end may be delayed to next year
• Sep 2010: Puan added that Green Packet is maintaining that its Ebitda (earnings before interest, tax, depreciation and amortisation) will break even by the end of this year.
• Nov 2010: "We're confident of breaking even no later than the first quarter. Ebitda (earnings before interest, tax depreciation and amortisation) turnaround is really at the corner," chief executive officer C.C. Puan said at a press conference in Petaling Jaya, Selangor, yesterday.
• Feb 2011: defers its target of being EBITDA (earnings before interest, taxation, depreciation and amortisation) positive to end-2011.

Yeah.. Nov 2010: "We're confident of breaking even no later than the first quarter. Ebitda (earnings before interest, tax depreciation and amortisation) turnaround is really at the corner," chief executive officer C.C. Puan said at a press conference

Seriously eh?

Talk is really cheap with such abundance of supply!