Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Smartone Tumbles on Profit Decrease, Payout Cut: Hong Kong Mover

SmarTone Telecommunications Holdings Ltd., a unit of Sun Hung Kai Properties Ltd., fell the most in almost two years in Hong Kong trading after the company posted an earnings decline and announced dividend cut.

Shares of the telecom service provider slumped as much as 16 percent, the biggest drop since September 22, 2011, with a trading volume more than 10 times the three-month average. The benchmark Hang Seng Index rose 0.3 percent.

Smartone’s net income for the year ended June 30 plunged 18 percent to HK$843 million, the first decrease since 2009. The company, one of the authorized mobile carriers for Apple Inc.’s iPhone in Hong Kong, will cut its dividend ratio to 60 percent of net income in the future because of regulatory and market uncertainties, it said in a statement yesterday.

The cut “definitely makes those who like the company because of the generous dividend payout upset,” said Victor Yip, analyst at UOB-Kay Hian Ltd., who downgraded the stock to sell from buy today. “For people who like the company because of the growth story, they know that at least in the next 12 months, the earnings are not likely to show a positive growth.”

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.