Hutchison Telecom Australia: Momentum Has Continued Into 2nd Half

SYDNEY -(Dow Jones)- Hutchison Telecommunications (Australia) Ltd. said Wednesday business momentum from the first half has continued into the first few weeks of its second half.

Speaking to analysts and reporters after the group's first half result, Chief Executive Nigel Dews said that despite an increasingly competitive market, the group expects continued benefits from the acceleration of growth in the third generation (3G) mobile market.

Dews also said the group expects a significant drop in financing costs in the second half after paying down debt. The company expects its interest charge to drop by A$250 million on an annualized basis.

-By Lyndal McFarland, Dow Jones Newswires; 61-2-8235-2957; lyndal.mcfarland@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 22nd August 2007