China Communications Services profit soars 92.8% in 1H

China Communications Services Corp. Ltd<552>, a unit of China Telecom Group listed on Hong Kong Stock Exchange, reported the net profits was up 92.8% in the first half of 2007 due to the steady growth of revenue.

The net profits of the company rose from RMB 194.08 million to RMB 374.21 million during the first half. The gross profits were also higher than the same period of last year since the deficit on revaluation of property, plant and equipment was not included, said the company. It suffered a deficit of RMB 105.3 million in the first half of 2006 due to the restructuring before the listing.

In the first half of this year, its revenue increased 15.7% to RMB 2.37 billion, compared with last year's RMB 6.37 billion. Earning per share (EPS) increased from 0.049 to RMB 0.069.

Founded in August 2006, China Communications, provides the telecom support services, which undertook by China Telecom<728> previously in six regions in China, such as Guangdong and Zhejiang. The income gained from the telecom services was RMB 4.7 billion, accounting for 64% of the total revenue.