China Mobile H2 net profit rises 28%

SHANGHAI: China Mobile (Hong Kong) Ltd, the world’s largest carrier by subscribers, reported yesterday a 28% gain in 2004 second-half profit, as the acquisition of provincial networks from its parent masked slowing overall growth in a fast-maturing market. 

It also announced a boost in its dividend payout ratio for 2004 to 32.7% from rates in the range of 20%–21% in the two previous years, answering a call from investors that wanted to see bigger dividends to make the stock more attractive in the face of sluggish growth.