The ports-to-telecoms giant Hutchison Whampoa, which owns 3Ireland, has reported a 40% rise in net profit, helped by an improved performance at its loss-making 3G mobile operations.
The Hong Kong company, which is controlled by tycoon Li Ka-shing, reported a net profit of $20.03 billion for 2006, up from $14.34 billion, and just under analyst estimates of $20.28 billion.
The group's revenue grew 11% to $267 billion.
The company's third-generation operation, the 3 Group, reported narrowing losses due to the continued growth in its customer base, with sales up 35% to $50.7 billion and losses cut by 45% to just under $20 billion.
Hutchison said its 3G customer base increased 30% last year and currently stands at over 14.7 million customers worldwide.
A breakdown shows that the company has 3.9 million customers between the UK and Ireland.
Average revenue per active user was €45.63 for 2006, up 8% from 2005, but the group said competition for new customers remained strong in all of its markets throughout the year.
Speaking at a press conference, Li said the company expects losses in its third-generation (3G) mobile services business to narrow further this year on the back of growth in subscribers and increased revenue.
He reiterated that the unit is on track to achieving positive earnings before interest and taxes by 2008 and added he was "confident" that the 3G business will narrow its losses further this year.
Li also said he expects debt to be reduced by a third this year. Hutchison has current bank borrowings and other debts of $22 billion.
