CITIC Telecom records 1.1pc increase in net profit to HK$920 mln

CITIC Telecom International (1883), the parent company of Companhia de Telecomunicações de Macau, reported a 1.1 percent increase in net profit to HK$920 million, according to a filing published on Thursday.

The company declared a final dividend of 13 HK cents per share, bringing the total dividend per share for the year to 19 HK cents, an increase of 1.1 percent.

Its total revenue dropped 0.1 percent to HK$9.6 billion.

Revenue from telecommunications services fell 1.2 percent to HK$7.9 billion, due to a decline in revenue from enterprise solutions, internet services and fixed line services revenue. 

The drop was partially offset by the increase in revenue from mobile services and international telecommunications services. 

Besides, the group's total mobile subscribers by the end of last year was over 817,000 subscribers, up around 6 percent, resulting from the increase in postpaid customers of around 9.3 percent to about 623,000.

The telecom services provider further mentioned it will solidify its leadership position in the Macau market, deepen its local presence, and maintain its competitive edge in the 5G market.