City Telecom (H.K.) wireless fixed network half-year loss narrowed by 53%

The wireless fixed network under City Telecom (H.K.) (1137) saw its half-year loss ended Feb. 2001 reach HK$34.1 mln, down 53% from the same period last year. Unfortunately, its Internet business expanded the loss to HK$11.3 mln, soaring 17% from a year earlier. 

The company reaped profit of HK$31 mln from the long-distance telephone business, posting an increase of 76% from the same 2000 period. However, dragged by the loss in wireless fixed network and Internet business, the company still registered a loss of HK$14.4 mln, down 78% from a year ago.

Recording an interest income worth HK$19.7 mln, the company was back to black in the first half of this year and earned a profit of HK$5.817 mln.

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