Profits at China Mobile, the world’s largest mobile network, fell 10 per cent to Rmb109.3bn in 2014, partly the result of an ambitious capital expenditure programme surrounding the launch last year of its 4G service.
The profit was slightly higher than the Rmb108.6bn ($17.5bn) forecast by analysts polled by Reuters. China Mobile’s revenues of Rmb641.4bn were 1.8 per cent higher from a year ago.
Analysts expect China Mobile to have a better 2015. “Cash flow will improve dramatically as the capex hump is now behind us,” said Sanford Bernstein, the brokerage, in a note.
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