Posts net profit of RMB14.42bn, compared to RMB884m in 2008
China Telecom has reported revenue of RMB209.37bn for full year 2009, an increase of 12% compared to RMB186.53bn for 2008. Mobile services revenue was RMB35.62bn and the revenue from wireline services was RMB173.75bn.
For the year ended December 31, 2009, the company posted net profit of RMB14.42bn, compared to RMB884m for full year 2008. Selling, general and administrative expenses were RMB40.5bn, up compared to RMB27.5bn for the same period a year ago.
The company said, excluding the one-off impairment loss and amortisation of the upfront connection fees, net profit was RMB13.27bn in 2009, a decrease of 39.9% compared to RMB20.06bn in 2008.
The company’s total number of access line in service were down by 9.5% to 189 million. The total number of wireline broadband subscribers rose by 20.8% or net increase of 9.19 million to 53.46 million, while the total number of mobile subscribers increased by 101% or net increase of 28.18 million to 56.09 million.
The company has launched various integrated products and services, leveraging resources on wireline, mobile and internet services.
China Telecom said that it plans to continue to deepen the integrated operation, speed up the product and service innovations to optimise its business structure and achieve harmonious development of the full services operation.