CHINA TELECOM WITNESSED 10.5% PROFIT GROWTH IN Q1-Q3

AsiaInfo Services
10-29-2010
China Telecom Witnessed 10.5% Profit Growth in Q1-Q3

BEIJING, Oct 29, 2010 (SinoCast Daily Business Beat via COMTEX) -- China Telecom Corporation Ltd. (NYSE: CHA and SEHK: 0728), one of the top three Chinese telecommunications carriers, yesterday released its financial data for the first three quarters of 2010, showing that its operating revenues reached CNY 163.162 billion in the period, climbing 5.4% from a year earlier.

Profits attributable to shareholders were CNY 12.593 billion, rising 10.5%. EBITDA reached CNY 68.242 billion, hiking 7.4%. In the third quarter alone, the company obtained operating revenues of CNY 55.61 billion and profits of CNY 3.782 billion.

In its financial report, China Telecom points out that its profitability has been further improved since the beginning of 2010 till the end of the third quarter. In the period from January to September, its mobile users swelled 26.89 million.

Revenues from fixed line network slightly declined. Affected by the popularization of mobile phones, fixed line telephone users continued negative growth. The growth was still satisfying for Internet and data operations.

Source: www.sina.com.cn (October 29, 2010)

KEYWORD: BEIJING INDUSTRY KEYWORD: Telecommunications SUBJECT CODE: Services
Wired Telecommunications Services
SinoCast China Business Daily news
revenue
third quarter
profit
financial report
fixed line
mobile phone

Copyright 2010 AsiaInfo Services (via Comtex). All rights reserved