Hong Kong's largest operator HKT has reported a 30% increase in profit for the first half of 2016, despite facing “challenging” economic and market conditions.
The operator grew its net profit for the half-year to HK$2.32 billion. Total revenue increased 3% year-on-year to HK$16.39 billion, with ebitda increasing 2% to HK$5.86 billion over the same period.
HKT attributed the ebitda growth to continued cost synergies from the integration of CSL into its mobile operations. HKT paid $2.4 billion to acquire former rival CSL from Telstra in 2014.
HKT group managing director Alex Arena commented that despite the highly competitive nature of the Hong Kong fixed broadband and mobile markets, the operator is confident it can maintain its market leadership.
“We have seen a continuous increase in data usage by broadband customers, and there is no reason to believe that the growth in demand is to halt any time soon given the trend of online video streaming and the advent of new services such as virtual reality,” he said.
“HKT is uniquely positioned to meet this demand with our fiber-rich fixed network and our advanced wireless networks.”
He said the company will also seek to strengthen its CSL and 1O1O mobile brands to meet customers' evolving needs.
The operator ended the half-year with 4.44 million mobile customers, including 3.1 million postpaid subscribers, as well as nearly 1.6 million consumer and business broadband subscribers and 587,000 FTTH customers.