Newspaper article The Evening Standard (London, England)

Hutchison's Love Affair with 3G Swells Oz Losses to [Pounds Sterling]72.4m

Newspaper article The Evening Standard (London, England)

Hutchison's Love Affair with 3G Swells Oz Losses to [Pounds Sterling]72.4m

Article excerpt

Byline: BILL CONDIE

LOSSES at Hutchison's Australian operations increased by 44% to A$197.3 million (pound sterling72.4 million) last year as the company continued to pour money into its 3G mobile network.

The result was in line with expectations and compared with a loss of A$137 million a year earlier.

Hutchison Australia, 58% owned by Hong Kong's Hutchison Whampoa, still hopes to roll out its 3G network next month although hold-ups in Britain may delay it until later in the year.

So far, 3G-related costs have been A$84.7 million, which includes salaries, fees and overheads and other network deployment costs. This was partly offset by a A$15.3 million gain on the sale of its GSM subscriber base. But the company was eager to stress that its Orange mobile business had turned earnings-positive in the second half of the year as forecast, with the subscriber base increasing by 37% in the year to 263,501.

Nevertheless, the second-generation business still recorded a loss before interest, tax, depreciation and amortisation of A$14. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.