Hutchison Telecom reports year-end results

27 Feb 2007

Hutchison Telecom (Australia) has announced that in the year ending 31 December 2006 it made a AUD759 million (USD601 million) net loss, taking its total losses since starting in 1999 to nearly AUD2.7 billion. Full year revenue grew 15.6% to AUD1.1 billion, but the net loss ballooned 39% over the 2005 result due mainly to costs associated with shutting down the company’s Orange CDMA network. Total service revenue grew 22% to AUD924.9 million, with non-voice revenue from the 3 network more than doubling to AUD235.8 million. Hutchison claimed to have 1.245 million customers on its 3G network at the end of 2006, up from 1.131 million at the end of June. Annual customer churn was 1.1%, down from the 2.1% recorded in 2005. The cost of acquiring new customers fell from AUD402 to AUD274, thanks mainly to lower handset costs, the company said.

Australia, Hutchison Telecommunications Australia