Another loss for Hutchison's 3G group

Liam Tung
06 Aug 2010
00:00
News
Daily News

Hutchison Whampoa’s global 3G business remains in the red despite cutting its losses in the first half.

The group, which runs services in five European markets and Australia, posted a loss before interest and tax of HK$998 million, an 82% improvement over last year.

It predicted positive EBIT over the full year, pointing to 24% lower customer acquisition cost and lower amortization costs relating to 3UK’s licenses.

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Sales were 13% higher at HK$29.9 billion and its global subscriber base increased 6% to 27.8 million, but underlying ARPU fell 4%.

Mobile broadband users hit 5 million during the period, an increase of 16% on 1H09.

Losses at Hutchison Telecom International, which includes cellcos in Vietnam, Sri Lanka and Thailand, grew 39% to HK$869 million.

Hutchison Whampoa, the main vehicle of Hong Kong tycoon, Li Ka-shing, runs port services, real estate and retail businesses as well as telecoms. Its HKSE stock was up 2.36% to HK54.30 this morning.

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