Hutch Australia reports rise in net profit

www.WirelessFederation.com/news: A net profit of A$467.7 million ($421.3 million) has been posted by Hutchison Telecom Australia (HTAL), thanks to its merger with Vodafone Australia. A$587.3 million profit gain acted as a catalyst to bring the company from the red, as without HTAL would have posted a net loss of A$119.6 million.

According to VHA CEO Nigel Dews, VHA [Vodafone Hutchison Australia] is on-track to realize cost benefits outlined on announcement of the merger, which the company expects to equate to A$2 billion of net present value once fully realized.

The underlying net customer growth is 890,000 customers, while the total VHA revenue attributable to HTAL increased by 25.7% to A$2 billion.