Hutchison Telecommunications Revenue Rises 12% In H112
News: Hong Kong-based telecoms operator Hutchison Telecommunications Hong Kong Holdings registered a 12% y-o-y rise in consolidated turnover to HKD6.73bn (US$868mn) in H112 ended June 2012. Net profit attributable to shareholders grew by 15% y-o-y to HKD568mn (US$73.3mn) during the period. Revenue from the firm's mobile business rose by 15% y-o-y to HKD5.24bn (US$676mn), while fixed-line division contributed HKD1.72bn (US$222.5mn) to the H112 revenue. The operator's mobile subscriber base was 3.64mn at end-June, up from 3.35mn in June 2011.
BMI View: The growth in the operator's results reflects the high growth potential of mobile services in Hong Kong. BMI estimates there will be 15.97mn mobile subscribers in 2012 and expects the total to rise 10.32% by 2016 to 17.62mn. During this period penetration will rise from 222% to 234.8%.