Home broadband boosts SmarTone

SmarTone Telecommunications (0315) posted a 4.4 percent year-on-year rise in net profit to HK$257 million in the six months ending in December, thanks to its growing 5G home broadband service.

The local telecom services provider maintained its interim dividend at 14.5 HK cents.

The company recorded a total revenue of HK$3.49 billion, a 3 percent increase over the same period last year, primarily driven by higher handset and accessory sales which rose 9 percent year-on-year.

Total service revenue remained steady at HK$2.3 billion while revenue rose 18 percent in the 5G home broadband's product offering.

Due to increasing usage of SmarTone's international roaming products, roaming revenue saw a 6 percent growth.

In the period, customer numbers grew by 8.5 percent to 2.87 million and 5G penetration reached 40 percent.

Staff reporter