SUNeVision’s profit rises on strong data center demand
Data center operator SUNeVision Holdings Ltd. (1686.HK) reported its revenue rose 6% year-over-year to HK$3.12 billion ($400 million) during its latest fiscal year through June, while its profit grew 17% to HK$1.15 billion.
The company said it observed a significant uptick in demand for premium data centers over the past year, especially during the second half of the fiscal year, with demand from Chinese clients especially strong.
The company’s recurring revenue from its data center and IT facility operations increased 8% year-over-year to HK$2.86 billion during the fiscal year. Falling interest rates during the period also reduced the company’s borrowing costs, providing additional profit growth.
SUNeVision’s shares opened up 7% at HK$5.225 on Wednesday. The stock is down over 30% from its 52-week high.
By Lau Chi Hang
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