Hutch Aussie unit reports smaller first half loss

Australian mobile phone company Hutchison Telecommunications posted a narrower first-half net loss, saying its customer base grew strongly and margins per user remained steady, a Reuters report said.

The Reuters report quoted Hutchison, which is 58% owned by Hong Kong conglomerate Hutchison Whampoa, as saying that its net loss for the six months to June 30 was A$197.3 million ($157.8 million), compared with a net loss of A$524.7 million ($424 million) a year ago.

The 2006 first half included a A$299 million ($242 million) one-off charge for the closure of a mobile phone network.

Hutchison reported earnings before interest, tax, depreciation and amortization of A$31.4 million ($25.4 million), compared with earnings (EBITDA) of A$3 million ($2.4 million) a year ago.

Hutchison has spent heavily to roll out its third-generation mobile phone network, which allows users to access music and videos, which operates under the 3 brand.

Credit Suisse analysts had forecast a reported first half net loss of A$177 million ($143 million), and JP Morgan expected a net loss of A$205 million ($166.1 million).

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.