Tags:3G

Hutchison Telecommunications Limited (HTA) announced it is on track to achieve its guidance of finishing 2008 with positive earnings before interest and tax. The company said its customer base had grown 9.2% to 1.7 million as of April 2008, compared to April 2007.

CEO Nigel Dews said after closing the 2G network in 2006, Hutchison completely focused on 3G, enabling it to generate more non-voice revenue per customer in 2007 than any other carrier.

Hutchison increased revenue by 25% in 2007 and EBITDA nearly quadrupled to $114 million. The net loss for the full year improved to $385.1 million,?Mr Dews said.

"While mindful of some economic indicators showing signs of a consumer-led slowdown in the economy, we believe the strong momentum in our business looks set to continue."

The company said it is currently upgrading its network to handle speeds of 7.2 megabits per second (Mbps) from the current 3.6 Mbps and expects customer growth to continue.

Mr Dews said total annual margin increased by 30% and the average monthly margin increased from $59 million to $76 million.

his result was achieved in a highly competitive market despite a 25% decline in regulated call termination rates and capped plan pricing, which continue to place general downward pressure on industry margins,?he added.

At 1120 AEST, Hutchinson shares had crept forward 0.5c to 12.5c.



Source:egoli.com