China Unicom net profit surges 144.7%
(Xinhua)
Updated: 2008-03-28 10:54
Updated: 2008-03-28 10:54
Hong Kong-listed China Unicom Ltd, the Chinese mainland's second largest mobile telecom operator, reported on Thursday that its net profit surged 144.7 percent to 9.3 billion yuan ($1.33 billion) in 2007.
The company attributed the growth to a significant lower losses from the change in fair value of the derivative component of its convertible bonds.
China Unicom also received a tax refund of 2.8 billion yuan for the reinvestment of profits made by a subsidiary in China.
The operator's revenue saw an annual increase of 4.4 percent to 99.54 billion yuan in 2007, according to its statement.
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