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HK Telecom beats analyst forecasts with 17.5pc profit jump to $7.55b

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ANALYSTS are split on whether Hongkong Telecom's bumper results for the year to March 31 will be sustainable in the future.

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The group yesterday announced a 17.5 per cent rise in net profit to $7.55 billion with earnings per share up a similar margin at 67.8 cents, placing the share on an historic price-earnings ratio of 21.9 times.

Analysts said there were one-off factors in this year's results.

These included low staff cost rises and a freeze in fees paid to parent Cable and Wireless.

This means that a repeat of this year's profit growth performance in 1995 will be difficult.

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Total dividend was up 17.5 per cent at 51 cents, providing a yield of 3.4 per cent. The final dividend of 27.6 cents is payable on June 10.

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