Hutchison Telecommunications Hong Kong (0215) recorded an 83 percent improvement in net profit to HK$11 million for the first half of the year, which the company noted was mainly attributable to the elimination of losses previously arising from the Macau operations.
The telecom operator declared an interim dividend of 2.28 HK cents, with earnings per share standing at 0.23 HK cents.
Total revenue increased by 32 percent to around HK$2.85 billion year-on-year. Overall, profit from Hong Kong operations was HK$9 million, a decrease of 47 percent YoY, while profit from Macau operations was HK$2 million, compared with a loss of HK$11 million in the same period last year.
A spokesperson for the group said that following the disposal of the Macau business earlier this year, operations have stabilised and improved profitability was reflected in the encouraging interim results.
The board will continue to review the utilisation of cash to further enhance shareholder value as part of its review of the full-year results, the spokesperson added.
