HKT reports 16% rise in net profit for H1

8 Aug 2019

Hong Kong fixed and mobile operator HKT has reported a 1% increase in its total revenues (excluding mobile product sales) for the first half of 2019, to HKD13.77 billion (USD1.76 billion). Turnover from device sales declined from HKD3.37 billion in H1 2018 to HKD1.34 billion this year, ‘reflecting the continued lengthening of the handset replacement cycle, especially in view of the impending arrival of 5G handsets,’ it said. EBITDA rose 2% to HKD5.73 billion as a result of operating cost efficiencies, while profit attributable to shareholders jumped 16% to HKD2.16 billion.

At the end of June 2019 HKT claimed 2.62 million fixed lines in service, down 1% from 2.64 million a year earlier, while broadband access lines numbered 1.62 million at the same date, up 1% year-on-year. There was 9% annual growth in mobile subscriptions, from 4.23 million to 4.59 million, with pre-paid customers rising 36% y-o-y to 1.35 million as post-paid user numbers remained static.

Hong Kong, HKT (incl. CSL)