Hutch predicts 3 will be in black by year end

26 Aug 2005

Hutchison Whampoa has promised investors that its EUR18 billion investment in 3G will pay off this year, claiming that the business will be able to stand on its own two feet after one last EUR1 billion injection. However, the company’s ability to reap a return will largely depend on its meeting profit targets and successfully floating a 25% tranche of its Italian operation on the Milan bourse. In the six months ended 30 June 2005 Hutchison’s 3 arm reported a loss before interest and taxation of HKD10.6 billion, compared with HKD14.3 billion in the same period of 2004.

Hong Kong, CK Hutchison