HKT reins in PCCW's 2024 losses significantly

PCCW (0008) said its net loss for 2024 narrowed by 36 percent year-on-year to HK$300 million, benefiting from HKT’s advancement and stability.

The company, the major shareholder of local telecommunications giant HKT, maintained its final dividend at 28.48 HK cents per share, leading to a full-year distribution of 38.25 HK cents.

PCCW revenues increased by 3 percent to HK$37.5 billion, which is mainly attributed to HKT’s HK$32 billion income, excluding mobile product sales.

Its over-the-top business – digital distribution services offered directly to viewers via the internet – posted a revenue of HK$2.46 billion, remaining flat from one year prior.

Its free TV and related business revenue jumped by 11 percent to nearly HK$1.06 billion.

STAFF REPORTER