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MARKETS & INVESTING | Staff Reporter, Singapore

Pacific Century Regional Developments profit rose 9.9% to $95.6m in 2017

The 13.2% rise in revenue boosted the increase.

Pacific Century Regional Developments Limited’s profit increased by 9.9% YoY, from $86.98m in 2016 to $95.6m in 2017.

Revenue rose by 13.2% YoY to $14.66 in 2017, from $12.95m in the previous year.

“PCCW delivered a satisfactory set of financial results for the year ended 31 December 2017 underpinned by business resilience and operational efficiency improvements at HKT as well as steady progress in the Media and Solutions businesses,” Pacific Century said.

Meanwhile, total expenses also grew by 6.5% to $7.75m, which was due to high foreign exchange losses. The increase in expenses was partially offset by a decline in finance costs, from $3.7m in 2016 to $3m in 2017.

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