Hutchison Telecom reports strong first half results, record profits

16 Aug 2006

Hutchison Telecommunications International Limited (HTIL) has reported its financial results for the first half of 2006. Turnover rose 48% year-on-year to HKD15.67 billion (USD2.01 billion), whilst profits for the period turned positive to HKD644 million, compared to a loss of HKD220 million in 1H 2005. EBITDA increased by 61% to HKD4.759 billion, while EBITDA margin improved by 2.5 percentage points to 30.4%. HTIL’s Hong Kong mobile operations returned to positive net income, reporting a six-month operating profit of HKD200 million, with the Hong Kong and Macau mobile customer base increasing to 2.1 million by end-June, and its Thai operations turned EBITDA positive. The group’s consolidated mobile customer base reached 23 million, up 71% from a year ago. The increase in revenues was driven primarily by growth in India, which contributed 45% of total turnover, whilst the company reported progress in its rollout of start-up operations in Vietnam and Indonesia, with launches in both countries expected before the end of 2006.

Hong Kong, CK Hutchison