SmarTone's profit edges up 1.9 pc amid 5G home broadband growth

SmarTone Telecommunications' (0315) annual net profit inched up 1.9 percent yearly to HK$478.9 million, due to cost reductions and growing 5G home broadband revenue.

The telecoms giant declared a final dividend of 17.5 HK cents.

Revenue increased 0.52 percent to HK$6.25 billion, driven by 7.3 percent growth in handset and accessory sales.

Total service revenue dropped 2.1 percent while revenue from 5G home broadband grew 16 percent.

Consumer outbound data roaming revenue also increased by 5.5 percent, with over 50 percent of customers utilizing its roaming services.

Operating expenses and core capital expenses were down 4 and 10 percent, respectively, due to targeted efficiency programs and artifact intelligence-driven productivity improvements, SmarTone said.

Looking ahead, the company said it will continue to invest in AI technologies, achieve cost efficiencies, and enhance productivity amid a persistent competitive market, as well as seize the opportunity of new talent and immigrants coming to Hong Kong.

HELEN ZHONG