HTIL 2008 turnover up 16.3%; reveals further details of HK spinoff

4 Mar 2009

Hong Kong-based Hutchison Telecommunications International Ltd (HTIL), which provides mobile and fixed communications in eight countries and territories, has posted a 16.3% year-on-year rise in consolidated revenues to HKD23.7 billion (USD3.1 billion), up from HKD20.4 billion in 2007. The group’s mobile customer base grew approximately 28% year-on-year to over twelve million, helping to drive EBITDA up 17% to over HKD6.1 billion, and operating profit turned positive to approximately HKD4.1 billion. Despite these gains, annual group net profit attributable to shareholders fell to HKD1.9 billion from HKD66.9 billion the year before, as the 2007 figure included the sale of the company’s indirect interest in CGP Investments (Holdings) Limited. Alongside the results, HTIL announced that its Vietnamese mobile operation will launch GSM-based services this month.

HTIL also announced today that its executive board has approved a plan to distribute the entire share capital of its Hong Kong and Macau telecoms units to its shareholders as an interim dividend, if a plan to spin off and list the businesses is cleared by Hong Kong financial regulator, the Listing Committee of the Stock Exchange.