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March 11, 2008

CHT profits down 50%

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by David Allen

Chunghwa Telecom (CHT) has announced that its net profit estimates for February indicate a 47.4% on year drop. The estimate of NT$1.92 billion is equivalent to a net earnings per share (net EPS) of NT$0.21.

CHT have blamed the fall in profits for February on an NT$4.0 billion (US$129 million) book loss that resulted from a foreign exchange derivative contract with Goldmann Sachs.

Meanwhile, Taiwan’s other mobile network operators announced their estimated results for February. Taiwan Mobile (TWM) announced estimated net profits for February of NT$1.3 billion on revenues of NT$5.61 billion. Far EasTone Telecommunications (FET) estimate revenues of NT$5.141 billion, but have not yet released a net profit estimate.

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