China Telecom FY15 profit grows 13.4%

ChinaTelecom Asia — China Telecom has reported a sharp increase in its net profit for 2015 thanks to one-off gains from the sale of telecom towers and related assets last year. Profit surged 13.4% year-on-year to 20.05 billion yuan ($3.07 billion) on the back of a one-time gain of 3.94 billion yuan from the transfer of towers and other infrastructure to China Tower, the JV formed by the three telcos last year.

http://www.telecomasia.net/content/china-telecom-fy15-profit-grows-134

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