China Tower nine-month profit surges

Friday, October 18, 2019

Mainland telecom infrastructure provider China Tower (0788) said its net profit for the first nine months this year surged 97.5 percent from a year ago to 3.87 billion yuan (HK$4.29 billion) driven by revenue growth.

Revenue for the period grew 6.3 percent year-on-year to 57.04 billion yuan, of which revenue from tower business went up 4.1 percent to 53.6 billion yuan, and that from indoor distributed antenna system surged 45.2 percent to 1.92 billion yuan. It also recorded a 1.01 times growth in its trans-sector site application and information revenue.

Shares of the company climbed 0.58 percent, or 1 HK cent, to close at HK$1.72.