China Telecom profit grows nearly 12% in 2016

(Telecompaper) China Telecom reported operating revenues of CNY 352.3 billion in 2016, which represents an increase of 6.4 percent from 2015. Service revenues amounted to CNY 309.6 billion, up 5.6 percent year-on-year. EBITDA amounted to CNY 95.1 billion while EBITDA margin stood at 30.7 percent in 216. Net profit reached CNY 18 billion, up 11.7 percent from 2015, excluding the one-off gain from the disposal of tower assets. Basic earnings per share were CNY 0.22. Capital expenditure grew 11.3 p