Hutchinson posts first half results

Hutchinson Telecommunications (Australia) yesterday announced profit for the first half of 1999 of $6.8 million.

This is an increase of 30.2 per cent on last year's corresponding period.

Hutchinson's operating profit for the period increased to $8.8 million and total revenue for the telco reached $156 million.

Hutchison officials said strong performances in the mobiles market contributed to much of the growth.

GSM resale is Hutchinson's key line business. GSM subscribers rose 41 per cent to over 221,000, generating revenues of $134.6 million and revenue from long distance and Internet grew by 320 per cent to $1.9 million per annum.

Barry Roberts-Thomson, Hutchinson managing director also said the company had been able to make significant progress on the development of its CDMA network, which is expected to be launched mid 2000.

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