SmarTone reports 74% rise in FY net profits

3 Sep 2015

Hong Kong mobile operator SmarTone has recorded a 74% jump in net profits for the financial year to 30 June 2015, to HKD935 million (USD120.6 million). Total sales climbed 41% to HKD18.66 billion on the back of rises in service revenues (up 3% to HKD5.56 billion) and handset and accessory sales (up 67% to HKD13.06 billion). EBITDA was up 14% at HKD2.93 billion.

The firm also registered growth in its customer base, with user numbers increasing 4% year-on-year to reach 1.96 million; the majority of the growth came from its 3G speed-capped plan. Post-paid ARPU rose 3% to HKD294, excluding the dilution from the 3G speed-capped plan. SmarTone says the rollout of 4G Long Term Evolution (LTE) equipment using the 2600MHz band at selected high traffic locations is well under way, while it added that LTE Advanced (LTE-A) at 900MHz and 1800MHz has been enabled for over 75% of the 4G network, and pilot deployment has begun on tri-band carrier aggregation to increase spectral efficiency.

Hong Kong, SmarTone