China Unicom 2007 Net Profit More Than Doubles

HONG KONG -(Dow Jones)- China Unicom, the smaller rival of China's largest mobile carrier China Mobile, said Thursday its 2007 net profit more than doubled on subscriber growth and tax refunds.

Net profit for the 12 months ended Dec. 31 was CNY9.30 billion, up from CNY3.80 billion a year earlier.

Its 2007 net profit was higher than the average forecast of CNY7.61 billion in a Dow Jones Newswires poll of eight analysts.

Revenue rose 4.4% to CNY99.54 billion from CNY95.35 billion the year before.

The company declared a final dividend of CNY0.20, up from CNY0.18 a year earlier.

-By Lorraine Luk, Dow Jones Newswires; 852-2802-7002; lorraine.luk@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 27th March 2008