PCCW revenue jumps 23% to HK$18.1b in H1

HONG KONG: Richard Li Tzar-kai’s PCCW saw first-half net profit edge up 1.1 percent after Now TV its paid TV service performed well.

An interim dividend of 7.96 HK cents per share was proposed, up 13.9 percent from a year earlier. Revenue jumped 23 percent to HK$18.1 billion.

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Media operations posted a 7 percent revenue growth to HK$1.59 billion, driven by a 6 percent rise in its core Now TV business, and a 17 percent gain in new business initiatives.

Now TV’s subscriber base expanded 2 percent to 1.29 million as of June 30, while average revenue per user rose 2.6 percent to HK$196, thanks to a new TV service package and simplified pricing.