Hutchison Whampoa continues to cover mounting losses from its 3G cellular businesses by selling other assets. The company reported a net profit for the first half of the year of HK$12.5B on revenues of $81B. But Hutch also booked $15.1B in exceptional income, including the sale of a joint venture with Proctor & Gamble which brought in $13.8B.
Hutchison’s 3G businesses lost HK$8.92B during the first half of the year on revenue of $3.7B; the company’s subscriber base rose sharply to 3.2M users. For all of 2003 Hutch said its 3G businesses lost HK$9.67B on revenue of $2B.
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