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General

China Unicom net profit falls 70% in 2015

Thursday 17 March 2016 | 09:04 CET | News
China Unicom reported net profit for 2015 down 12.4 percent to CNY 19.56 billion. Excluding a gain of CNY 9.25 billion on the spin-off of its towers in a joint venture, net profit was down 69.9 percent to CNY 3.63 billion. Revenues fell 2.7 percent to CNY 277.05 billion, as mobile service revenue dropped 8.0 pecent to CNY 142.62 billion, offsetting growth of 3.1 percent in the fixed market to CNY 91.26 billion. EBITDA declined 5.7 percent to CNY 87.50 billion. Unicom said the "challenging business environment" put sales and profit under pressure, and it focused on its 4G offfers and 100 Mbps

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Categories: General
Companies: China Unicom
Countries: China
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