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China Unicom's 2011 net profit up 14%

Mar. 23, 2012 (China Knowledge) - China Unicom (Hong Kong) Ltd<600050><0762>, the country's second largest mobile telecommunication operator, announced yesterday that its net profit grew 14% year on year to 4.23 billion last year, driven by rapid growth in its 3G mobile services and fixed-line broadband businesses.

Basic earnings per share were RMB 0.18 last year, and the company proposed a final dividend of RMB 0.1 per share.

China Unicom realized RMB 185.89 billion in revenue in 2011, 13% more than in the previous year.

President Chang Xiaobing expected that the telecom operator' 3G mobile phone business, the largest driving force of its revenue growth last year, would generate a profit this year.

Chang said that the company plans to raise its capital expenditure from RMB 66.5 billion in 2011 to RMB 100 billion this year, which will be mainly used for its 3G network construction and broadband upgrading.

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