China Netcom's annual results for 2007 have been announced, showing the company generated CNY84 billion in revenues from continuing operations.
Consolidated net profit was CNY10.58 billion, and basic earnings per share were CNY1.59. The board of directors has recommended a final dividend of HK$0.592 per share, up 7.1% from that of the previous year.
Zhang Chunjiang, chairman of China Netcom, said, "In 2007, we made significant progress in the company's transformation into a broadband communications and multimedia services provider, breaking new ground with innovative businesses. In 2007, revenue generated from innovative businesses maintained its growth momentum, growing by 38.9%, and accounted for 34.7% of total revenue, up 9.5 percentage points from the previous year. This has paved the way for China Netcom's sustainable and fast growth in the future. We believe that the Company can sustain growth and create value for shareholders as long as it follows this long-term vision."