Hutchison Telecommunications Hong Kong achieved a profit of 6 million yuan last year

Hutchison Telecommunications Hong Kong turned from loss to profit last year, recording a profit of HK$6 million, which was a significant improvement compared to the loss of HK$52 million in the previous year. The final dividend remained at 5.21 HK cents per share, and the total distribution for the full year and interim dividend was 7.49 HK cents, the same as the previous year.

The group’s total revenue fell 2% to HK$4.78 billion last year, with hardware and other product revenue falling 11% to HK$1.22 billion. However, roaming service revenue increased by 30% to HK$680 million due to more outbound travel by Hong Kong residents, offsetting the impact of a 4% drop in local service revenue to HK$2.88 billion.

Earnings before interest and other financing income, net tax, depreciation and amortization (EBITDA) increased by 4% year-on-year to HK$1.52 billion, mainly due to continued effective cost-saving measures, which reduced operating expenses by 5%.

As of the end of last year, the Group’s total number of customers was approximately 4.6 million, an increase of 17% year-on-year, mainly due to the strong growth momentum of prepaid customers. 5G penetration rate increased by 8 percentage points year-on-year to 54%. The average monthly revenue per postpaid customer (ARPU) fell 2% year-on-year to HK$170.