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August 28, 2009

China Telecom first half revenue up 14%

Subscriber base increased by 11.37 million

By CBR Staff Writer

China Telecom has reported 14% increase in revenue in the first half of 2009, compared to the same period last year, as its subscriber base increased by 11.37 million in the first half, bringing total mobile-user base to 39.28 million at the end of June.

The company’s revenue for the first half was CNY103.15 billion, up from CNY90.38 billion in the same period last year. EBITDA fell to 42.5% in the first half of 2009, from 50.1% in the same period a year-ago. 

For the first half of 2009, the company reported a net profit of CNY9 billion, down 29%, compared to  CNY12.63 billion in the same period a year-ago. Selling, general and administrative costs in the first half rose 60% to CNY17.6 billion, compared to CNY11 billion in the same period last year.

The total wireline broadband customers and wireless internet access customers have increased by 4.78 million and 1.61 million on a net basis, reaching a total of 49.05 million and 3.95 million, respectively.

According to China Telecom, revenue from wireline broadband access reached CNY22,745m, an increase of 18.2% compared to the same period of last year. The subscribers of two customer segments, ‘BizNavigator’ and ‘One Home’ service reached 3.01 million and 30.11 million, representing an increase of 19.1% and 25.8%, respectively, from the beginning of the year.

Wang Xiaochu, chairman and chief executive officer of China Telecom, said in a statement: “In the first half of this year, the company grasped the opportunity and successfully promoted the fast development of the mobile business by expanding initiatives. The company also actively explored and enhanced the integrated operation capability. Although these brought short term pressure to the profitability, remarkable benefits have been achieved.”

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