PCCW lands back in profit

From Herald Tribune: At PCCW, first profit in 3 years

"PCCW, the largest phone company in Hong Kong, on Wednesday reported its first annual net profit in three years after completing a write-off of an unprofitable cable venture.
Net profit in 2004 was 1.64 billion Hong Kong dollars, or $210 million, which compared with a loss of 6.1 billion dollars in 2003, PCCW said in a statement. Sales rose to 22.9 billion dollars from 22.6 billion dollars.
The company is relying on broadband television services, apartment sales, and a joint venture with China Network Communications Group to make up for loss of market share in Hong Kong." Read more

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