HONG KONG, August 20, 2009 – PCCW Limited today reported the interim results for the six months ended June 30, 2009. Some key figures are as follows:
- Consolidated revenue increased by 12% to HK$12,774 million
- Consolidated EBITDA increased by 4% to HK$3,590 million
- Profit attributable to equity holders of the Company amounted to HK$654 million
- Basic earnings per share of 9.66 HK cents
Although there were signs of the economy stabilizing towards the end of the first half of 2009, the general business environment during the period was much tougher as compared to a year ago. The Group recorded a 3% year-on-year decrease in core revenue* to HK$10,468 million for the six months ended June 30, 2009. The decrease was mainly due to lower revenues from Telecommunications Services and Mobile businesses, partially mitigated by higher revenues from TV & Content and PCCW Solutions businesses.
Consolidated revenue including PCPD for the six months ended June 30, 2009 increased by 12% year-on-year to HK$12,774 million, reflecting higher property development revenue recognized from the Bel-Air project in the period.
Group Managing Director Alex Arena said the external environment had posed numerous challenges to the Company.
"We have seen both a major contraction in the business sector and significantly slower spending among consumers. We have responded to these challenges accordingly. Operationally we are more conscious than ever of cost management, while no effort is spared in retaining our customer base and broadening our revenue sources with our quality products and services. We continue to innovate, e.g. with the launch of the PCCW eye2 and NETVIGATOR Pocket Wi-Fi services, and we are positioning the core business to perform more strongly as the economic conditions improve," he said.
For further details of the 2009 interim results, please refer to the announcement that has been filed with the Stock Exchange of Hong Kong.
*Note: Core revenue refers to consolidated revenue excluding Pacific Century Premium Developments Limited ("PCPD"), the Group's property development and investment business.
2009 Interim Results Presentation [pdf - 624KB]
2009 Interim Results Announcement [pdf - 132KB]
About PCCW Limited
PCCW Limited (SEHK:0008) is the holding company of HKT Group Holdings Limited (HKT), Hong Kong's premier telecommunications provider and a world-class player in Information and Communications Technologies. PCCW also holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited.
As the provider of Hong Kong's first quadruple-play experience, PCCW/HKT offers a range of innovative media content and services across four platforms – fixed-line, broadband Internet access, TV and mobile. In addition, the Group meets the sophisticated needs of the local and international business community, while supporting network operators with cutting-edge technical services and handling large-scale IT outsourcing projects for public and private sector organizations. To learn more about PCCW and HKT, please visit www.pccw.com.
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