Unicom profit falls after one-time hit

24 Aug 2007

China Unicom has reported a year-on-year 24% drop in first half net income, down from RMB2.8 billion (USD369 million) to RMB2.13 billion following an accounting loss resulting from a change in the fair value of its convertible bonds. Revenue grew 5% to RMB49.2 billion on the back of continued subscriber growth. As of 30 June, China Unicom had 151.6 million wireless subscribers, up from 142.4 million at the end of 2006.

China, China Unicom