China Mobile's 2007 profits beat expectations

Telecoms

20 March 2008

China Mobile, the country's largest mobile operator, posted a 32% year-on-year increase in 2007 net profit, beating analyst predictions by nearly 5%, the Wall Street Journal reported. Strong subscriber growth was credited for the increase, with subscriber numbers growing 23% from the end of 2006, to 369 million people. However, average revenue per user per month slipped from US$12.73 to US$12.59. The company said capital spending priorities for 2008 would be the development of value-added business and network maintenance.

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