HONGKONG Telecom yesterday met the high expectations of analysts by revealing ''stellar'' interim profits of $3.65 billion, up 15.3 per cent on last year.
The company also gave details of its moves into new areas and said there were ''fundamental differences'' with the Government over the licence that will govern all territory phone companies when Telecom's monopoly on local calls expires in 1995.
Earnings per share for the six months to September 30 rose 15.5 per cent to 32.8 cents and the interim dividend has been boosted from 20.3 cents to 23.4 cents.
Turnover rose 13.4 per cent to $11.95 billion, despite the move in August for price cuts on some international calls - a monopoly which is easily the company's biggest money spinner, and one which will remain until 2006.
Chief executive Michael Gale described the results as ''satisfactory'' and said ''we have achieved this by continuous investment despite political uncertainties''.
The results were released during the market's lunchtime break and led to the company's shares slipping 30 cents to close at $16.30 as the strong performance had been largely predicted.