PCCW’s interim results for 2011: 8% growth of consolidated profit

12 August 2011 19 h 35 min 11 comments

Strong operating fundamentals across all core segments

HONG KONG, August 12, 2011 – PCCW Limited today reported the interim results for the six months ended June 30, 2011.

Some key figures are as follows:

Consolidated profit attributable to equity holders of the Company increased by 8% to HK$824 million; basic earnings per share amounted to 11.33 HK cents

Core revenue grew by 2% to HK$10,936 million;

. core EBITDA improved by 5% to HK$3,535 million (Note 1)

Consolidated revenue including PCPD rose by 3% to HK$12,186 million; consolidated EBITDA including PCPD increased by 1% to HK$3,775 million

• Declare interim dividend of 5.3 HK cents per share

PCCW’s financial results in the first half of 2011 reflected strong operating fundamentals across all the core business segments and demonstrated the continued success of our unique quadruple-play strategy.

Core EBITDA maintained its growth momentum and reported another 5% growth year-on-year to HK$3,535 million, on the back of solid core revenue growth of 2% year-on-year to HK$10,936 million for the six months ended June 30, 2011.

Albeit lower EBITDA contribution from PCPD, we are pleased to report an increase of 8% in consolidated profit attributable to equity holders of the Company to HK$824 million for the six months under review, benefiting from the significant 17% surge in earnings for the core business which reflected not only improved operational fundamentals but also lower finance costs during the period.

PCCW‘s Group Managing Director, Mr. Alex Arena, said, “PCCW enjoys a steady and strong cash flow due to its well-established and successful operations. We will continue to enhance our network capability and to introduce products and services that meet the needs of our customers. We are confident that our businesses can continue on a growth path in the foreseeable future.”

Note 1: Core revenue refers to consolidated revenue excluding Pacific Century Premium Developments Limited (“PCPD”), the Group’s property development and investment business; core EBITDA refers to consolidated EBITDA excluding PCPD; earnings for the core business refers to consolidated profit attributable to equity holders of the Company excluding the Group’s share of PCPD’s profit after tax and effects of eliminations.

About PCCW Limited

PCCW Limited (SEHK:0008) is the holding company of HKT Group Holdings Limited (HKT), Hong Kong’s premier telecommunications provider and a world-class player in Information and Communications Technologies. PCCW also holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited.

As the provider of Hong Kong’s first quadruple-play experience, PCCW/HKT offers a range of innovative media content and services across four platforms – fixed-line, broadband Internet access, TV and mobile. In addition, the Group meets the sophisticated needs of the local and international business community, while supporting network operators with cutting-edge technical services and handling large-scale IT outsourcing projects for public and private sector organizations.

Full results

SOURCE: PCCW (12/08/2011)

IN THE PRESS:

. “PCCW Profit Rises 8% on Hong Kong Mobile, Pay-TV Earnings” (Bloomberg, 12/08/2011) 

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