Hong Kong communications group PCCW has posted a 23% rise in annual net profit from core telecoms/pay-TV operations to HKD2.37 billion (USD304.9 million) in 2015, up from HKD1.93 billion the previous year, as core revenue rose 19% to HKD39.15 billion from HKD32.96 billion. The results included the first full twelve-month contribution from cellco CSL which PCCW’s main telecoms unit HKT acquired in 2014. Core annual EBITDA grew 16% to HKD12.14 billion from HKD10.51 billion.
Alongside the results, PCCW, the flagship conglomerate of Hong Kong billionaire Richard Li Tzar-kai, highlighted an ambitious expansion plan across Asia this year for its over-the-top (OTT) and information technology service businesses, the South China Morning Post reports. PCCW group managing director Srinivas Bangalore Gangaiah said that the company is looking to widen the reach of its Viu-brand premium OTT video service in eleven markets in the region, adding that ‘following the launch in Hong Kong, Singapore and Malaysia, Viu will have expanded presence in Indonesia and India in this first quarter.’ He added the company’s information technology services arm, PCCW Solutions, would also boost its presence in mainland China and other Asian markets to meet demand in industries including telecommunications, financial services, retail, hi-tech and media. PCCW Solutions, which contributed HKD3.59 billion in revenue to the group in 2015, is aiming to ‘fully serve’ mainland China’s vast manufacturing sector and its growing health-care-related enterprises, according to Srinivas.