HONG KONG, March 22, 2011 - PCCW Limited (the "Company") today reported the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended December 31, 2010. Some highlights are as follows:
- Consolidated profit attributable to equity holders of the Company increased by 28% to HK$1,926 million; basic earnings per share amounted to 27.75 HK cents
- Core revenue* increased by 3% to HK$21,467 million; consolidated revenue including PCPD amounted to HK$22,962 million, reflecting lower property development revenue recognized
- Core EBITDA* increased by 5% to HK$7,069 million; consolidated EBITDA including PCPD was HK$7,353 million
- Final dividend of 10.2 HK cents per share
PCCW continued to demonstrate growth and improved profitability in 2010 and delivered a strong financial performance, reflecting continued success of our unique quadruple-play strategy in the core business.
Driven by solid growth momentum across all core business segments, core revenue increased by 3% to HK$21,467 million for the year ended December 31, 2010, while core EBITDA also increased by 5% to HK$7,069 million.
Consolidated revenue including PCPD was HK$22,962 million. Consolidated profit attributable to equity holders of the Company increased by 28% to HK$1,926 million.
PCCW Group Managing Director, Mr. Alex Arena, said, "Despite intense competitive pressure in the Hong Kong telecommunications market, PCCW has been able to continue growing its businesses through innovation, focus and hard work. Our core segments made progress in the past year and, more importantly, exhibit a momentum for further growth in 2011 as the local and global economies continue to recover from the lingering impacts of the global financial crisis."
For further details of the 2010 annual 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; core EBITDA refers to consolidated EBITDA excluding PCPD.
2010 Annual Results Presentation [pdf - 4MB]
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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