China Netcom reports interim results

27 Aug 2008

In the six months ended 30 June 2008 China Netcom generated RMB41.12 billion (USD6.01 billion) in revenue; sales from ‘innovative’ businesses (including broadband, value added and ICT services) grew by 26.2% to RMB16.48 billion or 40.6% of total revenue, up 8.5 percentage points on the same period of 2007. Net profit for the period was RMB5.88 billion, up 11.9% year-on-year primarily as a result of a change in corporation tax. At the end of June Netcom claimed 23.35 million broadband customers, an increase of 3.59 million in twelve months. Traditional fixed lines in service fell by over 2.3 million in twelve months to 108.5 million at the end of June. China Netcom is due to be merged into China Unicom later this year.

China, China Netcom