Telecommunication News
- China Mobile profits up, matching market's expectation
Date: 22-Mar-2007 Sources: (Xinhua Online)
China Mobile, Hong Kong stock market's heavy weight, announced Wednesday that its profit in 2006 reached 66 billion yuan (about 8.48 billion U.S. dollars), up 23.3 percent, matching the market's expectation.
China Mobile, Chinese mobile market dominator, said benefiting from the stable and rapid economic growth of China, its turnover of 2006 reached 295.4 billion yuan, up by 21.5 percent and the number of subscribers exceeded 300 million, up 22.1 percent, which further consolidated its leading position in mobile communication market.
It admitted that rural market becomes its fast growing sector during the year and about half of its subscribers increase in 2006 comes from the enlargement of rural market due to its efforts in developing services and products targeting at rural customers.
The mobile giant said its proposed ordinary final dividend will be 0.763 HK dollars per share, including interim dividend of 0.62 HK dollars per share, its total ordinary dividend for 2006 will amount to 1.383 HK dollars per share.
Besides, the board proposes a special final dividend of 0.069 HK dollars per share, including special interim dividend of 0.09 HK dollars per share, making the annual special dividend of 2006 reaching 0.159 HK dollars per share.
Talking about the outlook of 2007, the Chairman of China Mobile Wang Jianyu admitted that one-way charge may cut down the earnings of per minute but the new policy will also promote the usage volume and thus bring more profits.
For the launch of A shares, Wang said the company has done some research on the plan and there's no specific schedule so far.
As the only mobile telecommunication partner for the 2008 Beijing Olympics, the group said it will try its best to improve its service and at the same time further explore mobile multi-media products both in network and technologies.
The closing price of China Mobile Wednesday reached 73.65 HK dollars, up 1.17 percent with a turnover of 2.52 billion HK dollars.
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