Netcom net profit up

6 Apr 2005

China’s second largest fixed line operator China Netcom has reported net profits of CNY9.2 billion (USD1.1 billion) for 2004 compared with a loss of CNY11.1 billion in 2003. Strong sales of mobile and internet services helped contribute to the turnaround, with revenues up 8% to CNY64.9 billion (USD 7.8 billion). While Netcom operates predominately in northern China, in addition to growing domestically the company has sought expansion abroad; its state-owned parent bought a 20% stake in Hong Kong operator PCCW in January 2005.

China, China Netcom