Zhitong Financial APP News, PCCW (00008) announced interim results for the six months ended June 30, 2019, the group achieved a comprehensive income of HK $16.859 billion, down 11% from the same period last year; realized core income of HK $16.652 billion, down 11% from the same period last year; profit attributable to equity holders of the company was HK $163 million, down 12% from the same period last year; basic profit per share was HK2.11 cents, and an interim dividend of HK9.18 cents per share was proposed.
During the period, excluding sales of mobile communications products, the revenue of HKT Trust and HKT Limited (06823) increased by 1 per cent to HK $13.768 billion due to growth in telecommunications services and mobile communications. As consumers look forward to the launch of 5G mobile phones, the upgrade to new products has been delayed, resulting in a low sales performance of mobile communication products during the period.
Free television and over-the-top (OTT) business continued to achieve steady growth, with revenue up 28% and 12% respectively compared with the same period last year, while NowTV was affected by the World Cup effect in the previous period, resulting in an increase in revenue. Compared with the period, NowTV's revenue performance remained stable during the period. Business income of enterprise solutions stabilized at HK $1.717 billion.
As a result, core revenue (excluding sales of mobile communications products) remained stable at HK $15.311 billion.
In addition, PCCW Properties (00432) received a total income of HK $207 million during the period, compared with HK $165 million last year. The rental performance of the Pacific Century Centre in Jakarta is stable, with 85% of the office space reserved or leased.
The Group's media services are committed to meeting the different needs of audiences in Hong Kong, the region and other markets. Now TV will focus on improving earnings and profit margins, and will enhance market penetration through the earlier launch of Now E. The Group's OTT business will continue to increase regional market share and attract more users, while free television services will strive to expand audiences and explore non-traditional revenue opportunities.
In Hong Kong, PCCW's enterprise solution is adding data centre infrastructure, and the new capacity is scheduled to come into service in the second half of 2019 and contribute revenue to the business. At the regional level, the Enterprise Solutions business will continue its success in Hong Kong and continue to expand the Southeast Asian market to meet the increasing demand for IT services from enterprises and public organizations.
HKT will continue to add value to its customers and improve its operational efficiency so as to enhance the profits and cash flow of its underlying businesses. At the same time, the Group will also be prudent in developing new business.