CK Hutchison's telecom business revenue grows 15 percent in Q1

CK Hutchison's (0001) telecom business recorded a 15 percent rise in revenue to €2.9 billion in the first quarter.

The total margin of CK Hutchison Group Telecom also grew by 11 percent to €2 billion in the three months.

Revenue for the UK telecom business jumped by 55 percent year-on-year to €980 million, but dropped by 5 percent from the fourth quarter on pressure in the business segment.

The UK segment’s margin soared by 48 percent to €646 million from a year ago.

Sales for its Italy segment dipped by 3 percent to €902 million.

It agreed to sell a 49 percent interest in VodafoneThree, which operates the UK telecom business, for £4.3 billion. The transaction is expected to be completed in the second half, subject to certain conditions.

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