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China Unicom sees profit for Q1 soar six folds

Apr. 26, 2012 (China Knowledge) - China Unicom (Hong Kong) Ltd<600050><0762><CHU>, the country's second largest telecom operator, yesterday said it reaped RMB 1.01 billion in net profit in the first quarter of this year, reflecting a year-on-year jump of 594%.

Earnings per share were RMB 1.58 RMB cents.

In the three months ended Mar. 31, 2012, the Chinese telecom giant saw its operating revenue increase 24.8% year on year to RMB 61.19 billion, of which RMB 49.99 billion was derived from service sector, up 13.9% from a year earlier.

RMB 12.53 billion was from revenue in 3G business. The company added 8.84 million 3G users in the first quarter of this year, bringing its total 3G subscriber volume to 48.86 million as of Mar. 31, 2012, with average revenue per user (ARPU) of RMB 93.9 per month.

China Unicom had RMB 453.7 billion in total assets at the end of last month, 1.1% less than the end of March 2011. Net asset value per share (NAVPS) climbed 0.3% year on year to RMB 3.36 in the first quarter of 2012.






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