China Telecom profit falls 96%
24-03-2009
China Telecom has recorded a 96-percent fall in profit for last year to 884-million yuan - the lowest level since the company went public in 2002. The sharp plunge was due to a 24-billion yuan impairment charge as it wound up its "Little Smart" services - a limited-range mobile network - last year. Natural disaster took place last year also cost the operator 3.4 billion yuan.
