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Israeli divestment gives HTIL USD745m yearly profit

4 Mar 2010

Hong-Kong based mobile group Hutchison Telecommunications International (HTIL) has posted a net profit for full-year 2009 of HKD5.781 billion (USD745 million), up from HKD1.668 billion the year before, after receiving a gain of approximately HKD6.333 billion from the sale of its Israeli operation Partner in October 2009. Profit attributable to equity holders of the company rose from HKD1.132 billion in 2008 to HKD4.940 billion the following year. Turnover for 2009 reached HKD1.856 billion, up from a restated figure of HKD1.808 billion in 2008. However, operating loss ballooned from HKD813 million to HKD2.069 billion in the same period, and operating loss for the year from continuing operations widened to HKD2.736 billion in 2009 (HKD728 million in 2008). The group also carried out the spin-off of its Hong Kong and Macau operations in May 2009. HTIL’s group mobile customer base increased 97.6% year-on-year to approximately 12.8 million at end-December 2009, across Indonesia, Sri Lanka, Vietnam and Thailand.

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