PCCW to post 1H01 net profit of HK$921.2 million, vs 1H00 net loss of HK$34.9 mi

PCCW (0008) is likely to post 1H01 net profit of HK$921.2 million, vs 1H00 net loss of HK$34.9 million. Analysts note last year's loss figure is poor comparative base as it doesn't include contribution from former HKT, which PCCW only bought last August. Swing factor is whether PCCW books goodwill provision for its JVs with Telstra: the valuation of both has fallen significantly. For core fixed-line business in HK, analysts forecast 2-4 % growth for FY01, noting market saturated. Stock closed up 4.9% at HK$1.71

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