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China Telecom Net Profit Down 96.3% In 2008

March 26, 2009
Telecom & Wireless

Chinese telecommunications operator China Telecom has published its annual financial report as of December 31, 2008, which states its net profit decreased by 96.3% compared with that of 2007 to CNY884 million.

According to the report, China Telecom made revenue of CNY186.801 billion in 2008 and its earnings before interest, taxes, depreciation and amortization were CNY84.696 billion. China Telecom attributed the profit decline to the assets depreciation of its PAS service Little Smart and the natural disasters in 2008. The company says if these negative factors are excluded, China Telecom's net profit would be CNY20.066 billion, a year-on-year decrease of 12.8%; its revenue would be CNY184.779 billion, a year-on-year increase of 4%; and its earnings before interest, taxes, depreciation and amortization would be CNY85.889 billion, a year-on-year decrease of 1.3%.

Revenue from China Telecom's fixed line voice services was CNY96.331 billion, a year-on-year decrease of 13.7%, and the revenue accounted for 51.6% of the total; revenue from Internet business was CNY40.786 billion, a year-on-year increase of 28.2%, accounting for 21.8%; revenue from value-added services was CNY16.274 billion, a year-on-year increase of 23.2%, accounting for 8.7%; revenue from comprehensive information application services was CNY10.853 billion, a year-on-year increase of 65.1%, accounting for 5.8%; revenue from basic data and network element renting business was CNY10.231 billion, a year-on-year increase of 11.4%; and revenue from other businesses was CNY6.332 billion, a year-on-year increase of 22.2%.

At the same time, the number of China Telecom's fixed line phone users was 208 million, a decrease of 12.29 million; the number of its broadband users was 44.27 million, increasing 8.53 million; and the number of its mobile phone users was 27.91 million.

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