Saturday, March 29, 2008

China Unicom profits more than doubled

China Unicom Ltd<600050><762>, the nation's No. 2 mobile phone operator, on Thursday posted a rise of more than 100% in 2007 net profit thanks to increased users and tax rebate.

China Unicom, for the 12 months ended Dec. 31, realized a profit of RMB 9.3 billion, up from last year's RMB 3.8 billion. The figure beats analysts' forecast of RMB 7.61 billion in a survey conducted by Dow Jones Newswires.

Revenue increased 4.4% to RMB 995.4 billion from RMB 95.35 billion of the previous year.

It recommended a final dividend of RMB 0.2 a piece, up from RMB 0.18 a year earlier.

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