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China Mobile Net Profit Grows 28% in First Half

China Mobile (Hong Kong) announced Wednesday its profit attributable to shareholders rose to 24 billion yuan (US$3 billion), representing an increase of 27.7 percent over the same period last year.


The continued growth of new subscriber base and robust development of new businesses attributed to the period's outstanding performance, the company said.


The company's operating revenue sustained a relatively rapid growth. In the six months ended on June 30, 2005, the company's operating revenue reached 114.5 billion yuan (US$14.4 billion), representing an increase of 32.5 percent over the same period in 2004. EBITDA (Earning before tax, depreciation and amortization) reached 62.7 billion yuan, representing an increase of 27.2 percent over the same period last year. EBITDA margin was maintained at a relatively high of 54.7 percent.


In the first half of 2005, the company's business development is encouraging. As of 30 June 2005, its total subscriber base reached 224 million. The development of new businesses achieved remarkable results, with the "Short Message Service" or "SMS" maintaining stable growth, "Color Ring" and WAP businesses developing rapidly, and application businesses such as music and games maturing quickly. This brought about an impetus to the company's business development.


Inspired by the company's strong interim result, the H share price of China Mobile surged over 7 percent to close at 34.5 HK dollars (4.4 US dollars), hitting a four-year high Wednesday. 


(Xinhua News Agency August 11, 2005)


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