China Tower earns 8 percent more in the first half

China Tower (0788) recorded an 8 percent rise in half-year net profit to 5.76 billion yuan (HK$6.3 billion) and declared an interim dividend of 13.25 fen.

The Chinese telecom company’s earnings before interest, taxes, depreciation, and amortization rose 3.6 percent to 34.23 billion yuan. 

Overall revenue for the six months increased by 2.8 percent to 49.6 billion yuan. Sales from the telematics service providers business inched up 0.8 percent to 42.5 billion yuan, of which, revenue from tower business was flat at 37.8 billion yuan. 

Sales from the smart tower business grew by 18.7 percent to 4.7 billion yuan while those from the energy business climbed by 9.2 percent to 2.21 billion yuan. 

Its shares advanced 3.8 percent after releasing the results.