Hutchison Whampoa’s global 3G business remains in the red despite cutting its losses in the first half.
The group, which runs services in five European markets and Australia, posted a loss before interest and tax of HK$998 million, an 82% improvement over last year.
It predicted positive EBIT over the full year, pointing to 24% lower customer acquisition cost and lower amortization costs relating to 3UK’s licenses.
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Sales were 13% higher at HK$29.9 billion and its global subscriber base increased 6% to 27.8 million, but underlying ARPU fell 4%.
Mobile broadband users hit 5 million during the period, an increase of 16% on 1H09.
Losses at Hutchison Telecom International, which includes cellcos in Vietnam, Sri Lanka and Thailand, grew 39% to HK$869 million.
Hutchison Whampoa, the main vehicle of Hong Kong tycoon, Li Ka-shing, runs port services, real estate and retail businesses as well as telecoms. Its HKSE stock was up 2.36% to HK54.30 this morning.