Hutchison's profit surges 40 pc
Hutchison Whampoa Ltd, billionaire Li Ka-shing's biggest company, posted a 40 per cent gain in profit last year as the company stemmed losses at its high-speed mobile-phone operations in Europe and Australia.
By Agencies |
HONG KONG: Hutchison Whampoa Ltd, billionaire Li Ka-shing's biggest company, posted a 40 per cent gain in profit last year as the company stemmed losses at its high-speed mobile-phone operations in Europe and Australia.
Net income rose to 20.03 billion HK dollar (2.6 billion US dollar) from 14.3 billion HK dollar, a year earlier, the Hong Kong-based company said today.
Hutchison's 3 Group trimmed losses by 45 per cent by cutting discounts on third-generation mobile-phone services that allow faster video and music downloads. The company has used asset sales and earnings from ports, energy, property and retailing to support the unit that lost 11 billion US dollar before interest and taxes from 2003 to 2005.
3 Group lost 19.99 billion HK dollar before interest and tax last year, almost half the loss of 36.3 billion HK dollar the year before.
Net income rose to 20.03 billion HK dollar (2.6 billion US dollar) from 14.3 billion HK dollar, a year earlier, the Hong Kong-based company said today.
Hutchison's 3 Group trimmed losses by 45 per cent by cutting discounts on third-generation mobile-phone services that allow faster video and music downloads. The company has used asset sales and earnings from ports, energy, property and retailing to support the unit that lost 11 billion US dollar before interest and taxes from 2003 to 2005.
3 Group lost 19.99 billion HK dollar before interest and tax last year, almost half the loss of 36.3 billion HK dollar the year before.
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