SmarTone results on the up

17 Sep 2004

Hong Kong mobile operator SmarTone has posted a positive set of financials for the year ending 30 June. The company’s net profit increased 23% to HKD466.5 million (USD59.8 million), from HKD378.3 million last year, while revenues were up 19% to HKD3.37 billion (USD432 million). SmarTone says sales of handsets and accessories were one of the contributing factors to its success, rising 58% to HKD878 million (USD112.5 million). The quality of the customer base was also improved, with blended ARPU up 3% year-on-year at HKD188.

SmarTone is Hong Kong’s fourth largest cellular operator, with 1,065,000 subscribers at the end of June, up from 966,000 twelve months earlier, giving it a share of around 15% of the Hong Market.

Hong Kong, SmarTone