Chunghwa ahead of 2003 forecast

11 Jul 2003

Despite seeing its pre-tax profit fall by 5.2% in the first six months of 2003 from TWD31.49 billion to TWD29.85 billion, Taiwanese telco Chunghwa Telecom claims it is still well ahead of its full year target. Revenues for the first half increased by 2% to TWD87.99 billion, driven mainly by strong demand for high speed internet services. Fixed line revenues fell by around 4.5% in the six month period, principally as a result of a fall in international voice tariffs.