NEW YORK-Hongkong Telecom showed strong growth in revenues, net income and earnings for the six-month period that ended Sept. 30, according to results the carrier released Friday.
Compared with the same first-half fiscal year period in 1996, Hongkong Telecom reported operating revenue of $2.27 billion, an 11-percent increase; net income of $771 million, an 11.5-percent increase; earnings per American Depository Share of 65 cents, a 7.7-percent increase; and dividends per ADS of 49 cents, an 11.6-percent increase.
“Dedication to quality services and products, coupled with innovation and creative marketing, has enabled Hongkong Telecom to continue to deliver impressive results in the face of extensive competition,” commented Hongkong Telecom Chairman Richard H. Brown.
The carrier, which is 59-percent owned by Cable & Wireless plc of the United Kingdom, has sought to diversify its revenue stream. Services other than international calling represented 49 percent of revenues during the first half of the company’s fiscal year, compared with 38 percent three years earlier.
Compared with the first half of fiscal year 1996, other telecom services revenues grew by 16 percent, “a reflection of strong customer demand for Hongkong Telecom’s full range of high quality value-added services, mobile service and business data transmission capability,” the company said.
Hongkong Telecom experienced 60-percent growth in its mobile customer base, which now totals 515,000 subscribers. “Much of this growth was contributed by the highly popular `One2Free’ brand, while the premium `1010′ brand also achieved tremendous growth in recent months through enhanced services and new pricing packages,” noted the company. The carrier also attributed customer growth to investments it has made in network quality.
