Unicom books 89% net profit growth

26 Apr 2013

China Unicom has reported an 88.6% year-on-year increase in net profits to CNY1.899 billion (USD304.8 million) for the three months to end-March 2013, as strong revenue growth outstripped marginal increases in operating expenses. Unicom booked revenues of CNY70.60 billion for the quarter, compared to CNY61.19 billion in the corresponding period of 2012. Mobile service revenues accounted for CNY35.24 billion of the telco’s income, up by 20.4% y-o-y, of which CNY19.23 billion derived from Unicom’s 3G business. Unicom claimed 250.708 million wireless users at the end of March 2013, including 87.816 million 3G subscribers. In the fixed line market, revenues totalled CNY21.66 billion, increasing by 5.4% from Q1 2012, with Unicom ending the period with 60.913 million broadband customers. Meanwhile, a marketing drive saw selling expenses grow by 22.8% to CNY10.01 billion.

China, China Unicom