Backman
17-08-2005, 07:19 AM
Hutchison Telecommunications (Australia), Hutchison Whampoa's mobile telecoms unit in Australia, said first half net losses shrank to A$305.3 million (HK$1.83 billion) from A$332.9 million a year ago after it signed up more users for third-generation mobile services.
HTA said 3G service revenue grew 160 percent to A$218.1 million in the first half, helping boost turnover to A$444.6 million, 35 percent more than a year ago. Losses before interest, taxes, depreciation and amortization in the 3G business, a measure of cash flow, narrowed to A$144 million from A$206.7 million a year ago.
"The improvement ... is primarily attributable to revenue and margin growth, with much slower increases in capital expenditure,'' the company said.
HTA said it added 119,000 new 3G subscribers in the six months ending June 30, boosting the total to 532,000. However, this was a slowdown in the rate of subscriber growth as HTA signed up 189,000 new subscribers in the second half of last year.
Parent Hutchison Whampoa, the Hong Kong conglomerate controlled by billionaire Li Ka-shing, said it had 8.1 million 3G subscribers at the end of March in seven markets, a total that included HTA's figures at the time.
Hutchison Whampoa reported a loss of HK$38 billion on its 3G business last year due to high start-up and depreciation costs, though the group predicted the business will start to generate positive cash flows next year, with break-even expected a year later.
Read full story (http://www.thestandard.com.hk/stdn/std/Business/GH17Ae10.html)
HTA said 3G service revenue grew 160 percent to A$218.1 million in the first half, helping boost turnover to A$444.6 million, 35 percent more than a year ago. Losses before interest, taxes, depreciation and amortization in the 3G business, a measure of cash flow, narrowed to A$144 million from A$206.7 million a year ago.
"The improvement ... is primarily attributable to revenue and margin growth, with much slower increases in capital expenditure,'' the company said.
HTA said it added 119,000 new 3G subscribers in the six months ending June 30, boosting the total to 532,000. However, this was a slowdown in the rate of subscriber growth as HTA signed up 189,000 new subscribers in the second half of last year.
Parent Hutchison Whampoa, the Hong Kong conglomerate controlled by billionaire Li Ka-shing, said it had 8.1 million 3G subscribers at the end of March in seven markets, a total that included HTA's figures at the time.
Hutchison Whampoa reported a loss of HK$38 billion on its 3G business last year due to high start-up and depreciation costs, though the group predicted the business will start to generate positive cash flows next year, with break-even expected a year later.
Read full story (http://www.thestandard.com.hk/stdn/std/Business/GH17Ae10.html)