HKT profit steadies at $1.9b in H1

The telecom firm's total revenue grew 7% to $15.64b over the same period.

Telecom HKT reported its profit remained stable at $1.9b in the first half of the year, which was attributed to the integration of the Now TV business.

The company’s Pay TV business generated some $1.23b in revenue, which included the full six-month revenue of Now TV.

“HKT remained focused on its customers by delivering superior networks and digital platforms and offering innovative value-added services and compelling entertainment content to consumers and businesses,” the company said in its report.

Total revenue grew 7% to $15.64b, which was driven by the sustained strong demand for broadband and data services.

Its local data services business saw a 5% growth in revenue as business customers intensified efforts in their digital transformation.

The telecommunications services (TSS) revenue, however, slipped 1% to $10.24m, dragged by a decline in the international telecommunications business. Excluding this, HKT’s TSS would have increased by 5% year-on-year.

Moreover, the mobile business grew 12% to %5.10b over the same period with the mobile services revenue steadying at $3.57b as the surge in local core revenue offset the reduced contributions from the roaming business.

The company declared an interim distribution worth $30.70 cents per share stapled unit.

Moving forward, the company plans to further strengthen its focus on 5G development.

“We are determined to fulfil our role as a technology enabler to enterprises as digitalization takes hold in different industries. These efforts will help advance Hong Kong’s transformation into a smart city,” HKT said.