HKT profit grows 28% in 1H15

06 Aug 2015

HKT has reported a strong 28% year-on-year increase in revenue and 27% profit growth for the first half of the year, thanks in large part to the full integration of acquired mobile unit CSL.

Revenue grew to HK$15.97 billion ($2.06 billion), with mobile revenue more than doubling to HK$6.04 billion, the company's latest financial report shows.

Mobile service revenue increased 97% to HK$4.57 billion, boosted by a full six-month contribution from CSL. Mobile data revenue doubled to account for 69% of total mobile service revenue.

HKT ended the period with 4.6 million mobile customers, of which 3.1 million were on postpaid plans. Overall, mobile accounted for 38% of total revenues for the half-year, compared to just 23% a year ago.

On the fixed front, international telecom service revenue grew 12% to HK$3.8 million, local data services increased 4% to HK$3.4 million and local telephony services were flat at HK$1.7 million. Total fixed revenue was up 6% TO HK$10.1 million.

Net profit meanwhile increased 27% year-on-year to HK$1.78 billion. Capex grew to HK$1.3 billion, representing 8% of total revenue, due to network integration work related to the CSL purchase and spending to satisfy demand for high speed fiber and international connectivity.

HKT secured approval in May last year to buy CSL for $2.45 billion. The purchase bought CSL's three mobile brands and its valuable 3G spectrum.

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