HTHKH grows annual profits by 35%

20 Mar 2012

Hutchison Telecommunications Hong Kong Holdings (HTHKH) has reported a 35% jump in annual net profits to HKD1.02 billion (USD131 million) in the twelve months ended 31 December 2011, on consolidated turnover that rose 36% to HKD13.41 billion, mainly driven by strong growth in smartphone sales and mobile data communications. Consolidated EBITDA rose 19% from HKD2.19 billion in 2010 to HKD2.61 billion. The group, which includes Hong Kong cellco Hutchison Telephone Company (3), its sister firm 3 Macau and fixed line provider Hutchison Global Communications, said that the turnover of its mobile business reached HKD10.41 billion in the year, with mobile EBITDA of HKD1.71 billion, up by 50% and 38% respectively. Mobile customers reached a total of 3.51 million at end-December 2011, up 10% year-on-year, of which 3G subscribers accounted for approximately 75%. Revenues of the fixed line business increased by 4% to HKD3.40 billion in full-year 2011 and fixed line EBITDA was HKD1.02 billion, down slightly from HKD1.06 billion the previous year. Fixed wholesale carrier business growth was offset by intense price competition in the residential market and a non-recurring HKD44 million write-off of submarine cables located at the Hong Kong-Zhuhai-Macau Bridge construction site, Hutchison’s statement said.