China Telecom first-half profit up 15%

Editorial Team
Editorial Team
China Telecom first-half profit up 15%

Profits at Chinese state-owned telecommunications company China Telecom rose 15.9 percent year-on-year in the first six months of the year, the company has announced.

It also recorded double-digit growth in revenues, which jumped 14.1 percent to 157.52 billion yuan.

China Telecom said growth in its 3G mobile operation was behind the profit and revenue increase.

The number of 3G subscribers in the first half jumped 26.5 percent.

“In the second half of the year, we will firmly seize the present golden window of opportunity and focus on accelerating the scale expansion of our strategic 3G services and wireline broadband services,” the Hong Kong-listed company said.

China Telecom is China’s largest fixed line service and third largest mobile telecommunication provider.

The mobile telecommunications market is at a fast growing stage with rapid migration to 3G.

China Telecom decided not to pay an interim dividend.

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.