Telecom H1 net profit grows to CNY13.9bn

23 Aug 2019

Chinese full-service provider China Telecom has booked operating revenue of CNY190.5 billion for the first six months of 2019, down 1.3% year-on-year, despite a 2.8% increase in service revenue to CNY182.6 billion over the same period. Of the latter figure, mobile service revenue accounted for CNY88.2 billion (+5.6% y-o-y) and wireline service revenue made up a further CNY94.4 billion (up 0.3%). EBITDA for H1 2019 was up by 13.3% y-o-y to CNY63.3 billion, whilst net profit edged up by 2.5% from CNY13.6 billion in H1 2018 to CNY13.9 billion. Telecom counted a total of 323.48 million mobile subscribers at the end of June 2019, of which 266.14 million were 4G customers. Broadband subscriptions totalled 150.18 million, 69.6% of which utilised connections of 100Mbps and above, whilst 63.3% of the telco’s broadband users were signed up to triple-play plans.

China, China Telecom Corporation