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PCCW core revenues down 5%

10 Mar 2010

Hong Kong’s PCCW Group has released its financial results for the full year ended 31 December 2009. Consolidated net profit attributable to equity holders of the company increased by 18% year-on-year to HKD1.51 billion (USD194 million), and core revenues (disregarding property businesses) decreased by 5% to HKD20.86 billion. Against a backdrop of economic downturn, intense market competition and adverse regulatory decisions, PCCW felt it recorded a ‘satisfactory performance’ in 2009, with group managing director Alex Arena saying, ‘Following the successive turnarounds of the mobile business in 2007 and the TV & Content business in 2009, all our quadruple-play segments are now contributing positive EBITDA and represent a solid platform for further development.’ PCCW Mobile’s 3G mobile subscriber base grew by 28% year-on-year to 529,000 at end-December 2009, whilst retail consumer fixed broadband lines in service saw a 1% increase over the same period to 1.146 million.

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