August 12, 2018 / 12:02 PM / 4 months ago

China Tower first-half net profit up 8 percent

FILE PHOTO: People walk past the headquarters of mobile telecommunications tower operator China Tower in Beijing, China July 25, 2018. REUTERS/Stringer

HONG KONG (Reuters) - China Tower Corp Ltd (0788.HK), the world’s largest mobile telecommunications tower operator, said on Sunday its net profit in the first six months rose 8 percent amid continued efforts to diversify its revenue streams.

The net profit of the company, whose shares debuted in Hong Kong on Wednesday, climbed to 1,210 million yuan ($177 million) during the period, compared with 1,120 million yuan for the same period last year.

Operating revenue was up 6.2 percent to 35,335 million yuan.

Its shares closed up 1.6 percent before the results. The broader market .HSI eased 0.8 percent.

China Tower raised $6.9 billion last week in the world’s biggest IPO in two years.

Reporting by Clare Jim and Greg Torode; Editing by Mark Potter

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