Pacific Century CyberWorks' mobile phone unit CSL has reported an operating profit of HK$1.36 billion for last year, according to a disclosure by its majority shareholder Australia's Telstra.
Sister company Reach, a 50-50 joint venture of the two carriers, yesterday reported an operating profit of US$398 million for the first 11 months.
Both results beat the company's guidance to analysts.
Analysts said the ventures with Telstra could contribute more than HK$500 million net profit to CyberWorks, due to announce results this month.
Voon San Lai, analyst at BNP said: 'These sets of results are well above expectations. Anything growing for wireless is encouraging.'
Telstra yesterday said in its half-year results announcement that earnings before interest, tax, depreciation and amortisation (ebitda) of 60 per cent-owned CSL were HK$697 million for the second half, making full-year ebitda HK$1.36 billion.