PCCW Reports H1 Interims

HONG KONG -- PCCW Limited today reported continued double-digit growth in its core business performance in the first half of 2008 as the Company successfully implemented its growth strategies.

Highlights of the interim results for the six months ended June 30, 2008 are as follows:

The strong core revenue growth was driven by growth in all core business segments - 11% in Telecommunications Services, 45% in TV & Content, 28% in Mobile and 9% in PCCW Solutions.

Consolidated revenue including Pacific Century Premium Developments (PCPD) was lower than a year ago due to lower property development revenue recognized from the Bel-Air project in the period.

The 10% core EBITDA increase was primarily attributed to strong revenue growth in all core business segments and significant improvement in TV & Content and Mobile EBITDA.

Group Managing Director Alex Arena said: "It is encouraging to note that during the first half of 2008, an increasing number of customers were using more of our unique quadruple-play services via each of the four delivery platforms. We are confident that, subject to the continuing satisfactory performance of the Hong Kong economy, this trend will continue, thereby contributing to a rise in household average revenue per user (ARPU), which will drive an increase in core business revenue."

PCCW Ltd. (NYSE: PCW; Hong Kong: 0008)