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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: pennywise who started this subject	3/20/2002 7:56:58 AM
From: ms.smartest.person	Read Replies (1) of 2248

Hong Kong's PCCW Reports Jump in Profit to $243 Million A WALL STREET JOURNAL ONLINE NEWS ROUNDUP HONG KONG -- Pacific Century CyberWorks Ltd. said Wednesday that its net profit jumped to US$243 million (HK$1.89 billion) for 2001, boosted by growth in its broadband Internet service. The company, headed by tycoon Richard Li, last year posted a net loss of HK$6.91 billion (US$885 million). "Our integrated communications business produced a satisfactory performance, considering this was an extremely difficult year for the industry as a whole," Mr. Li said in a statement. The company said the number of subscribers using its broadband Internet service in 2001 surged to 402,000 from 282,000 a year earlier. Earnings before interest, tax, depreciation and amortization (EBITDA) increased to US$948 million from a pro forma US$790 million, the company said. Revenue for 2001 totaled US$2.815 billion, a 6% increase from a year earlier on a pro forma basis. PCCW's shares closed down 2.41% at HK$2.025 before the earnings numbers were reported. URL for this article: online.wsj.com Updated March 20, 2002 7:37 a.m. EST Used with permission of wsj.com

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