China Tower (0788) said first-half net profit grew by 16.9 percent year-on-year to 2.98 billion yuan (HK$3.32 billion). The mobile telecommunications tower operator said earnings before interest, taxes, depreciation and amortization climbed by 4.6 percent to 29.1 billion yuan for the first six months this year. Revenue from trans-sector site application and information and energy operation businesses surged by 87.3 percent to 1.58 billion yuan. China Tower managed 2.02 million tower sites as of end-June, representing an increase of 21,000 from the end of 2019. Shares of China Tower fell 4.64 percent to HK$1.44 as of 2:42 pm.

Source: The Standard August 11, 2020 07:18 UTC