Chunghwa expects new businesses to spur 3% to 5% annual growth

28 Sep 2005

Chunghwa Telecom says it expects to see revenues grow by 3% to 5% annually over the next four years on the back of strong take-up of new services, including its recently launch 3G network. In a statement Chunghwa chairman Hochen Tan said that the company’s recent share sale and subsequent new investment had given it greater flexibility to introduce new businesses which he sees as strong drivers of revenue in the coming years. Hochen Tan’s comments have been branded optimistic by analysts, especially following Chunghwa’s 1.3% decline in revenues for the first half of this year. Turnover for the six months to the end of June 2005 fell to TWD90.7 billion (USD2.77 billion), and net income stood at TWD24.9 billion, but the telco is confident that full year revenues will hit TWD200 billion by 2008.

Taiwan, Chunghwa Telecom