China Tower net rises 14pc, payout skipped

China Tower (0788) posted a 14.6 percent rise in interim net profit to 4.84 billion yuan (HK$5.29 billion) from 12 months ago but did not declare any dividend.

The state-owned tower operator's revenue during the first six months grew 2.2 percent to 46.46 billion yuan from a year ago.

Specifically, income from its core tower business dropped by 2.9 percent to 37.48 billion yuan and sales from indoor distributed antenna system business jumped by 24.4 percent to 3.42 billion yuan during the period.

Revenue from the smart tower business surged 31 percent to 3.39 billion and income from its energy unit saw 38.5 percent growth to nearly 2 billion yuan during the period.

The company manages a total of 2.06 billion tower sites at the end of June, a net increase of 6,000 sites from the end of 2022.

It gained 61,000 new tenants during the same period, bringing the total number of its tenants to 3.42 million.

The capital expenditures of the company rose 41 percent to 12.82 billion yuan for the first half of 2023 from the previous year.