China Mobile Ltd. (CHL) said Thursday its first-half net profit rose 3.5% from a year earlier, thanks to higher revenue despite intensifying competition.
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The major Chinese mobile carrier said its net profit for the six months ended June 30 rose to 62.68 billion yuan (US$9.4 billion) from CNY60.57 billion a year earlier. Its first-half operating revenue rose 5% to CNY388.87 billion from CNY370.35 billion a year earlier. It declared an interim dividend of HK$1.623 (US$0.21) per share and a special dividend of HK$3.2 per share, celebrating the 20th anniversary of its listing.
The company has long had a dominant share of the Chinese mobile market, with 867 million customers at the end of June. But it has been under pressure from smaller rivals, China Telecom Corp. and China Unicom (Hong Kong) Ltd., as part of the government's continued efforts to promote competition.
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(END) Dow Jones Newswires
August 10, 2017 00:43 ET (04:43 GMT)