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Telecoms revenue at $8.15 billion in first half

Released at: 16:27, 19/07/2015

Telecoms revenue at $8.15 billion in first half

Local telecommunications firms report solid business results for first six months.

by Son Ho

The revenue of local telecommunications firms grew in the first half of the year, to an estimated VND177.761 trillion ($8.15 billion), excluding Viettel’s business in foreign countries.

On July 17 the Ministry of Information and Communication held a preliminarily conference on State administration in the first half of the year and the direction for the second half, where the telecommunication firms presented their business results for the first six months.

According to Mr. Hoang Son, Deputy General Director of Viettel Corporation, its revenue in Vietnam in the first half was VND115 trillion ($5.27 billion), 26 per cent higher than in the first half of last year. Profit before tax was VND22.244 trillion ($1.02 billion) and State budget contributions were VND9.4 trillion ($430.8 million). It had 3.6 million new subscribers, of which 1.2 million were in its Vietnam operations.

Mr. Tran Manh Hung, General Director of VNPT, said total revenue in the first half represented 49.9 per cent the annual plan. Total profit was equal to 55.6 per cent of the annual plan and 30 per cent higher than in the same period last year. It had 1.3 million new subscribers.

For MobiFone, Mr. Le Nam Tra, Chairman of its Board of Management, reported that revenue and new subscribers increased by 7.85 per cent and 67.5, respectively compared to the first half of last year. Its value-added services, meanwhile, rose by 17 per cent.

Ms. Chu Thi Thanh Ha, Chairman of FPT’s Board of Directors, said its revenue for the first half was VND2.4 trillion ($110 billion), a 34 per cent increase year-on-year. Total profit was VND418 billion ($19.16 million), a mere 5 per cent increase due to its major investment in changing from copper cable to optical cable.

The figures are good news for the domestic telecommunications industry. In the first half telecommunications network infrastructure continued to develop and enterprises accelerated their network investment and service delivery, as promised.

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