Hutch HK 1H profit up 41%

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Hutch HK 1H profit up 41%

Robert Clark  |   August 03, 2010
telecomasia.net
Hutchison Telecom Hong Kong has announced a 41% rise in first-half profit, thanks largely to reduced network writedowns and the mobile data boom.
 
The fixed and mobile provider boosted total sales 5% to HK$4.28 billion ($550m), with its Hong Kong and Macau mobile operators growing data revenue 40% to $924 million.
 
In contrast to rival CSL, whose A$170 million ($155m) impairment charge forced parent Telstra cut its earnings guidance, Hutchison’s mobile group posted an operating profit of HK$361 million on 7% higher turnover of HK$2.8 billion.
 
Data accounted for a third of mobile sales – as much as the voice business - as it boosted postpaid ARPU to HK$214 from HK$202 for the same period last year.
 
The company attributed this to the recovery of the local economy “and an upturn in spending and traveling.”
 
The fixed-line business was flat at HK$1.6 billion, with operating profit of HK$226 million.
 
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