PCCW (SEHK:0008) - HONG KONG, August 6, 2014 -The directors of PCCW Limited are pleased to announce the unaudited consolidated results of PCCW and its subsidiaries for the six months ended June 30, 2014. Some key figures are as follows:

  • Core revenue increased by 13% to HK$14,440 million; consolidated revenue (including PCPD) increased by 10% to HK$14,664 million
  • Core EBITDA increased by 13% to HK$4,457 million; consolidated EBITDA (including PCPD) increased by 11% to HK$4,376 million
  • Consolidated profit attributable to equity holders of the company increased by 24% to HK$1,058 million; basic earnings per share amounted to 14.57 HK cents
  • Interim dividend of 6.99 HK cents per ordinary share
  • PCCW reported a set of healthy financial results for the six months ended June 30, 2014 which was attributable to solid performance of our core businesses.

Core revenue for the six months ended June 30, 2014 increased by 13% to HK$14,440 million and core EBITDA also increased by 13% to HK$4,457 million, with a strong contribution from HKT and continued growth of the IT solutions business.

The board of Directors has resolved to declare an interim dividend of 6.99 HK cents per ordinary share for the six months ended June 30, 2014.

Mr. BG Srinivas, who joined PCCW as the Group Managing Director in July 2014, said, "The Media business will continue its efforts to strengthen its leadership position in the pay-TV market in Hong Kong while developing its OTT strategy and international content distribution business which has seen initial success. Apart from a strong customer base of over 1.26 million households, we have achieved an OTT user base of over 3.2 million. And our footprint of now branded content is in seven countries. We shall continue to invest in creating content assets that will deliver value to our business."

"The Solutions business will look to retain its leadership in the IT services sector in Hong Kong as well as expanding its presence in the mainland China market. As it consolidates its strengths, it will explore global opportunities. We shall continue to invest in building solutions and stay relevant to our client needs. With our delivery capabilities in Hong Kong and mainland China, we have a strong foundation to build on as we aspire to go global," he added.

"HKT will leverage its mobile market leadership following the CSL acquisition and seek to realize the operational synergies, which will manifest more evidently over the course of the next 18 to 24 months. Broadband and international connectivity will continue to contribute strongly to HKT's results," Mr. Srinivas said.

"The realization of Pacific Century Place by Pacific Century Premium Developments effectively enhances its financial flexibility to engage in other attractive business opportunities and this should benefit its sustained long-term growth and profitability," he said.

"Provided that the local economy continues to grow, we are cautiously optimistic about the outlook for the second half of 2014," Mr. Srinivas concluded.

For further details of the 2014 interim results, please refer to the announcementthat has been filed with the Stock Exchange of Hong Kong.

Note:
Core revenue refers to consolidated revenue excluding Pacific Century Premium Developments Limited (PCPD), PCCW's property development and investment business; core EBITDA refers to consolidated EBITDA excluding PCPD.

About PCCW Limited

PCCW Limited (SEHK: 0008) is a Hong Kong-based company which holds interests in telecommunications, media, IT solutions, property development and investment, and other businesses.

The Company holds a majority interest in HKT, Hong Kong's premier telecommunications service provider. HKT meets the needs of the Hong Kong public and local and international businesses with a wide range of services including local telephony, local data and broadband, international telecommunications, mobile, and other telecommunications businesses such as customer premises equipment sale, outsourcing, consulting, and contact centers.

PCCW also owns a fully integrated multimedia and entertainment group in Hong Kong, which includes a highly successful IPTV operation, now TV. As the provider of Hong Kong's first quadruple-play experience, PCCW offers a range of innovative media content and services across four delivery platforms - fixed-line, broadband Internet access, TV and mobile.

Also wholly-owned by the Group, PCCW Solutions is a leading information technology outsourcing and business process outsourcing provider in Hong Kong and mainland China.

In addition, PCCW holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited. To learn more about PCCW, please visit www.pccw.com.

For media inquiries, please call:

Stella Wong
Group Communications
Tel: +852 2888 2253
Email: stella.wm.wong@pccw.com

Ivan Ho
Group Communications
Tel: +852 2883 8747
Email: ivan.wy.ho@pccw.com


distributed by