China Telecom Corp. (0728.HK) reported a 7.4% rise in net profit for the first half of the year on strong demand for high-speed mobile services despite intensifying competition in the world's biggest telecommunication market.
The Chinese mobile and fixed-line operator said Wednesday that its first-half net profit was 12.54 billion yuan ($1.88 billion), compared with a net profit of CNY11.67 billion a year ago. Operating revenue rose 4.1% to CNY184.12 billion from CNY176.83 billion last year.
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It said it won't pay an interim dividend this year to ensure adequate funding flexibility.
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(END) Dow Jones Newswires
August 23, 2017 01:03 ET (05:03 GMT)