CITIC Telecom profit higher, revenue falls

Business | 14 Aug 2019 4:50 pm

CITIC Telecom International (1883) announced that net profit for the six months ended June 30 increased by 4.6 percent year-on-year to HK$511.1 million.
Total revenue declined by 11 percent year-on-year to HK$4.38 billion, mainly due to the significant drop in equipment and mobile handsets sales for the period.
The company declared an interim dividend of 5 HK cents per share.
The basic earnings per share were 14.1 HK cents, up by 2.2 percent compared to the same period last year.
Its 4G market share in Macau was 44.5 percent. As for 5G, CITIC Telecom International said it is contemplating the launch of services with the surrounding areas in 2020. 

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