3 Group narrows losses

3 Group reported an earnings before interest and taxes (EBIT) loss of HKD 3.18 billion (€0.275 billion) for the first half of 2008, narrowing from a loss of HKD 11.32 billion (€0.98 billion) a year earlier.

Parent company Hutchison Whampoa reiterated its target to move to positive EBIT on a monthly basis in the second half of this year and post a positive full-year result in 2009.

The mobile operator's first-half revenues rose 14% HKD 32.09 billion (€2.78 billion) , and EBITDA improved to HKD 10.50 billion (€0.91 billion) from HKD 4.15 billion (€0.359 billion) a year ago. The customer base grew 7 % over the period to reach 19,015 million on 20 August.