China Telecom posts 28% drop in H1’09 profits

www.WirelessFederation.com/news: China Telecom, China’s third largest mobile operator, posted a drop of 28% in its H1’09 profits. Operating revenues stood at CNY 103.15 billion, and excluding the amortisation of upfront connection fees, the operating revenues were CY 102.55 billion, up 14.8% from CNY 89.35 billion in the H1’08.
H1 EBITDA dipped by 2.1% to CNY 43.34 billion from CNY 44.27 billion. Profit fell 27.5 percent to CNY 8.41 billion, versus a profit of CNY 11.61 billion in the year-ago period. The operator’s mobile subscriber base grew by 40.7% to 39.28 million.
In 2011, China Telecom targets 100 million mobile subscribers and 65 million broadband subscribers.