Friday, March 07, 2008

PCCW's net up 20%

PCCW Ltd ( PCCW )<8>, the premier telecoms provider in Hong Kong and a world-class player in information and communications technologies, on Thursday reported healthy core business growth in 2007.

Core revenue for the year ended Dec. 31, 2007 climbed 12% to HK$20.58 billion and core EBITDA increased by 11% to HK$6.51 billion as the Group's quadruple play and growth strategies started to deliver dazzling results. Consolidated revenue including PCPD was down 7% to HK$23.72 billion, reflecting lower recognition of property development revenue.

Basic earnings per share jumped to HK$22.21 from HK$18.59 the year before, and the Board recommended a final dividend of HK$13.5 per share. Total dividend for 2007 will be HK$20 and based on its closing share price of HK$4.55 on Mar. 6, the dividend yield is 4.4%.

Despite fierce competition, the growth momentum of PCCW's TSS business continued in 2007. A significant development last year was the launch of PCCW eye which provides families with audio-visual infotainment and an expanding range of practical applications, the firm said in a press release.

As the provider of Hong Kong's first quadruple-play experience, the company offers a wide range of innovative media content and services across four platforms - fixed-line, broadband Internet access, TV and mobile.

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