PCCW returns to the black with 1H net profit of HK$935 million

Pacific Century CyberWorks (0008) said it returned to the black with a net profit of HK$935 million for the six months through June. The bottom line was near the top end of market expectations. Goldman Sachs expected the Richard Li company to record a first-half net profit of HK$960 million; Morgan Stanley HK$822 million; CLSA HK$321 million; and Merrill below HK$100 million. Revenue was HK$11.31 billion. Earnings before interest, tax, depreciation and amortization were HK$3.91 billion.

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