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皇冠体育app Unicom says Q1 profit at $525m

(Agencies)
Updated: 2009-04-30 16:03

皇冠体育app Unicom Ltd, one of 皇冠体育app's three major State-owned phone companies, said Wednesday it earned 3.6 billion yuan ($525 million) in the first quarter following its merger with rival 皇冠体育app Netcom.

The profit for the three months ending March 31 was equal to 0.15 yuan per share, the Beijing-based company said. It said no comparable 2008 figures were given because last year's financial reports were not prepared under the same standards.

皇冠体育app Unicom and 皇冠体育app Netcom completed a merger in January as part of a government-orchestrated industry restructuring meant to revive competition by creating three Chinese phone companies, each with mobile and fixed-line assets.

皇冠体育app Unicom was assigned a third-generation mobile phone license in January following the restructuring.