China Mobile, China Telecom and China Netcom declare financial results (China)

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China Mobile, China Telecom and China Netcom declare financial results (China)

May 15, 2007

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China Mobile has posted a 23 per cent increase in its net profits from $6.91 billion in 2005 to $8.54 billion in 2006. The company's revenues also surged to $38.2 billion during 2006. This was partially due to a 21 per cent rise in the company's subscriber base. Meanwhile, China Telecom has registered a 2.7 per cent decline in profits to $3.5 billion during the period under review.

This is primarily due to slow growth in its core fixed line business. However, according to the company, revenues from internet services rose by 32 per cent. China Netcom's 2006 profits also dropped by 6.7 per cent due to falling subscriber numbers.

The company's earnings reduced from $1.8 billion in 2005 to $1.7 billion in 2006.