China Unicom 1st Half Net Profit CNY6.62 Billion Vs CNY12.09 Billion
August 28 2009 - 5:16AM
Dow Jones News
China Unicom Ltd. (CHU) said Friday its first-half net profit
fell 45% from a year earlier, dragged down by a decline in its
fixed-line business and intensified market competition.
The company, China's second-largest mobile phone operator by
subscribers after China Mobile Ltd., said in a statement its net
profit for the six months ended June 30 was CNY6.62 billion, down
from a restated CNY12.09 billion a year earlier.
The result was slightly higher than the average CNY6.54 billion
forecast of eight analysts polled earlier by Dow Jones
Newswires.
First-half revenue fell 6.3% to CNY76.32 billion from a restated
CNY81.46 billion a year earlier.
The company restated the year-earlier figures to reflect its
merger with fixed-line operator China Netcom Group Corp. in
October.
-By Lorraine Luk, Dow Jones Newswires; 852-2802-7002;
lorraine.luk@dowjones.com