HKT's H1 revenue declines on 60% drop in mobile product sales

Wednesday 14 August 2019 | 09:23 CET | News
Hong Kong operator HKT saw its total revenue for the six months ended 30 June 2019 reach HKD 15.10 billion, which represents a decline of 11 percent year-on-year. Total revenue excluding mobile product sales increase by 1 percent to HKD 13.76 billion in the first six months of 2019, boosted by steady growth in Telecommunications Services and Mobile services sales. Mobile revenues, including mobile services and mobile product sales, dropped 28 percent to HKD 5.22 billion, mainly affected by mobile product sales which reached HKD 1.34 billion, down 60 percent from HKD 3.37 billion a year earlier. The decline reflects the delay in the handset replacement cycle especially in view of the arrival of 5G handsets, the company said.

Profit jumped 16 percent to HKD 2.16 billion in the six months to June, while basic earnings per Share Stapled Unit was 28.55 HK cents. EBITDA for the period was HKD 5.73 billion, which represents an increase of 2 percent year-on-year. 

Adjusted funds flow for the six months ended 30 June 2019 expanded by 3 percent year-on-year to HKD 2.27 billion. Adjusted funds flow per Share Stapled Unit grew by 3 percent to 30.01 HK cents. The company’s board of directors announced an interim distribution of 30.01 HK cents per Share Stapled Unit for the six months ended 30 June 2019. 

HKT ended June with 1.24 million business lines in service and 1.36 million residential lines. The number of broadband access lines rose to 1.61 million from 1.60 million in June 2018. The number of mobile subscribers also increased by 6 percent year-on-year to 4.59 million.  

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Categories: Fixed
Companies: HKT
Countries: Hong Kong
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