China Telecom First-Half Net Profit Up 7.4% to CNY12.54 Billion

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.

It said it won't pay an interim dividend this year to ensure adequate funding flexibility.

Write to Joanne Chiu at

(END) Dow Jones Newswires

August 23, 2017 01:03 ET (05:03 GMT)