Hong Kong Broadband posts 53% profit rise, restructures financial year
Hong Kong Broadband reported a 53% year-on-year profit increase to nearly HK$317 million for the 12 months to August. Total revenue rose 6% to HK$11.82 billion. The company will shift its fiscal year-end from 31 August to 31 December, with the next audited statement covering 16 months.
Hong Kong Broadband posted a net profit of nearly HK$317 million for the 12 months to 31 August, a 53 per cent increase from a year earlier, the company announced on 27 October. The firm did not declare a second interim dividend.
Total revenue for the period rose 6 per cent year on year to HK$11.82 billion. Enterprise solutions revenue grew 13 per cent to HK$6.23 billion, while residential solutions revenue fell 1 per cent to HK$2.3 billion. Revenue from mobile phones and other products declined 8 per cent to HK$1.35 billion.
As of 31 August, the company’s mobile communications business had 159,000 subscribers, down 12 per cent from a year earlier. Residential and business broadband subscriber numbers each rose 2 per cent, while voice subscriber numbers dropped 8 per cent for residential and 6 per cent for business.
Hong Kong Broadband announced it would change its financial year-end from 31 August to 31 December. The next audited consolidated financial statement will cover the 16-month period from 1 September 2025 to 31 December 2026.