Hutchison Telecom H1 Profit Surges 83% on Macau Exit Gains
AM730 · 1 SOURCESabout 1 hour ago1 MIN
Summary
Hutchison Telecommunications Hong Kong (stock code 215) reported net profit of HK$11 million for the first half of 2024, marking an 83% year-on-year increase driven primarily by elimination of losses from its Macau operations . The company maintained its interim dividend at 2.28 cents per share while expanding total revenue by 32% to HK$2.85 billion, supported by a customer base exceeding 3.2 million and 5G penetration reaching 64% .
Key Points
- Net profit jumped 83% to HK$11 million year-on-year, with EPS at 0.23 cents
- Total revenue grew 32% to HK$2.85 billion; customer service revenue up 6% to HK$1.87 billion
- Customer base of 3.2 million with 5G penetration at 64%; postpaid ARPU fell 2% to HK$173
- Hong Kong EBITDA remained flat at HK$763 million year-on-year
- Sold Macau business in January for HK$110 million, exiting 20+ years of operations
Why It Matters
The sale of unprofitable Macau operations has strengthened the company's financial position, demonstrating how strategic divestment can improve telecom profitability in competitive markets . With a strong cash position and improving profitability, Hutchison can now focus on growth opportunities while managing costs amid cautious consumer spending in Hong Kong .