Hutchison Whampoa posts results for 2009

30 Mar 2010

Hutchison Whampoa has reported that its revenue from telecoms operations (Hutchison Telecommunications Hong Kong Holdings, Hutchison Telecommunications International, and 3 Group) amounted to HKD77.7 billion (USD10 billion) for the year ending December 2009, representing a year-on-year decline of around 8%. The fall is due to the disposal of former subsidiary Partner Communications in Israel, lower ARPUs and unfavourable changes in exchange rates. Telecoms-based operating income came in at a loss of HKD4.8 billion, a significant improvement on the HKD12.5 billion loss posted in 2008. The smaller loss is due to a one-time gain of more than HKD3.6 billion from the merger between Hutch’s Australian subsidiary and Vodafone Australia, as well as cost savings and the extension of the telecommunications licences of 3 UK and 3 Italia, which resulted in lower amortisation to the tune of almost HKD3 billion for the two companies.

Hong Kong, CK Hutchison