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China Unicom reports 31.07% surge in net profit for H1

Aug. 24, 2012 (China Knowledge) - China Unicom (Hong Kong) Ltd<600050><0762>, the country's second largest telecommunications operator, announced yesterday that its net profit jumped 31.07% YoY to RMB 3.43 billion in the first half of this year, driven by strong growth in revenue from 3G business.

Earnings per share were nearly RMB 0.15 during the period, up 31.5% YoY. No interim dividend was proposed.

The company's EBITDA grew 12.5% YoY to RMB 36.04 billion in the period.

The mobile carrier saw its revenue increase 20% YoY to RMB 121.69 billion in H1. Revenue from mobile telecom business jumped 23.4% from the same period of 2011 to RMB 60.48 billion, of which RMB 26.9 billion or 44.47% was from 3G services.

Average revenue per user (ARPU) climbed 2.8% YoY to RMB 48.1 per month. However, ARPU of its 3G users fell 21.9% to RMB 91.8 billion per month.

The company saw its mobile subscribers increase 20.7% to 219 million in H1, including 57.53 million 3G users, 17.51 million more than at the end of 2011.







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