Business Services Industry
Hutchison's 2G network turns corner.
Australasian Business Intelligence, August, 2002
Aug 12, 2002 (The Sydney Morning Herald
ABIX via COMTEX) -- Hutchison Telecommunications Australia has managed to turn its second generation (2G) mobile business around. On 12 August 2002, the nation's fourth-biggest mobile telephone company unveiled a $A73m loss for the six months to 30 June 2002, an improvement on the $A91m loss recorded in the previous corresponding period. The result came on the back of cost cuts made on its Orange 2G mobile business. However, revenue almost halved to $A114m after the group sold its mobile resale business back to Singtel Optus in October 2001. The company confirmed that its 2G mobile business was on track to record positive earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter....
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