China Tower reports stable H1 growth

BEIJING - China Tower, China's telecoms tower infrastructure services provider, saw its net profit surge 110.6 percent year-on-year in the first half of 2019, amid 5G market opportunities.

The company reported H1 net profit of 2.55 billion yuan ($362.1 million), while its H1 revenue reached 37.98 billion yuan, up 7.5 percent from a year ago, its earnings report showed.

Specifically, the revenue from tower business increased 5.1 percent year-on-year to 35.81 billion yuan, while that of non-tower business accounted for 5.7 percent of the total, up 2.1 percentage points from one year earlier.

As of the end of June, the company managed a total of 1.95 million tower sites, up 4 percent year-on-year, according to the report.

While China granted 5G license for commercial use, the company has unveiled plans to help telecommunications operators launch 5G services in various Chinese cities.