HTHKH profit falls 9% in 2014

Dylan Bushell-Embling
18 Feb 2015

Hutchison Telecommunications Hong Kong Holdings (HTHKH) reported a 9% decline in net profit for 2014, despite a rebound in the second half of the year.

Profit for the year fell to HK$833 million ($107.4 million), even as revenue grew 28% to HK$16.29 billion.

Mobile turnover grew 35% to HK12.63 billion, but mobile service revenue declined 10% to HK$4.64 billion, in a result HTHKH attributed to increased churn of lower-ARPU customers due to a strategy of focusing more on higher-ARPU data centric customers.

Mobile hardware revenue surged 89% to HK$7.98 billion due to the launch of popular handsets in the second half of the year.

Fixed line revenue grew 6% to HK$4.1 billion, with international and carrier market revenue also increasing by 6% and corporate and business revenue increasing by 11%.

Comparing the second half of they year against the first, consolidated turnover increased by 62% to HK$10.07 billion, mobile service revenue declined by 2% and fixed line revenue grew 4%.

HKHTH said it has a “positive” outlook for the mobile and fixed line markets this year, and is “committed to delivering growth in service revenue, maintaining cost discipline and reliable network service.”

The company plans to further develop its fixed-mobile integrated services by improving synergies between its fixed and mobile businesses.

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