Hutchison highlights continued improvement from 3 Group

first_img Verizon sees positives in service revenue despite drop Home Hutchison highlights continued improvement from 3 Group 3 GroupFinancialHutchison Whampoa CK Hutchison tower split on track, 3 Group revenue up Previous ArticleTelefonica reiterates digital commitmentNext ArticleKT opts out of race for Tunisian stake 3 Group achieved “another important milestone” in 2013, according to parent Hutchison Whampoa, reporting positive EBITDA less capex for the period.The “encouraging performance” is said to reflect the European operator’s strong market position in the smartphone and mobile data segments, the increased contribution from 3 Austria following the acquisition of Orange Austria in January 2013, and a “well-disciplined operating and capital expenditure profile”.In Europe, 3’s registered customer base increased 13 per cent during the year to pass 26.6 million customers, of which more than 83 per cent are active.3 Group saw EBIT of HKD4.86 billion ($626.3 million), up from HKD3.15 billion, on revenue of HKD61.98 billion, compared with HKD58.71 billion for 2012.The company said that cumulative acquisition costs for 4G (LTE) services totalled around €1.1 billion.And looking forward, it anticipates further improvements in underlying performances, following the completion of the transition to a non-subsidised handset model in the customer base in 2013, and stabilisation of European mobile termination regimes.Away from 3 Group, Hutchison saw tough times for its Hong Kong business, which also houses its operations in Macau.EBIT at Hutchison Telecommunications Hong Kong was HKD1.37 billion, down from HKD1.74 billion, on revenue of HKD12.78 billion, down from HKD15.54 billion. The unit maintained its active mobile customer base at around 3.8 million.Hutchison noted changes including reduced mobile hardware and service revenue from lower demand for new handset models and the transition to a non-subsidised handset model, which was only completed in the first half of 2013.Going forward, the unit’s performance is expected to stabilise, with the handset subsidy transition complete, the removal of unlimited local data offerings, and the introduction of additional tier-pricing in late 2013.And for its Hutchison Asia Telecommunications unit, there was a loss (LBIT) of HKD409 million, compared with a prior-year loss of HKD846 million, on revenue of HKD6.3 billion, up from HKD4.45 billion.In 2014, HAT will “continue to focus on growing its business in Indonesia, where major network rollout activities were completed in the third quarter of 2013”.The unit has an active customer base of approximately 43.5 million with operations in Indonesia, Vietnam and Sri Lanka. AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 03 MAR 2014 Related Author Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Steve Costello Tags 3 Group teams with Cisco Jasper on IoTlast_img read more

Win a Trip to Germany, Entry to the Tour TransAlp from Sigma Sport

first_imgPRESS RELEASE: SIGMA USA is proud to announce a contest where one lucky rider can win an all expense paid trip to Germany and entrance into the Tour TransAlp. The Tour TransAlp is one of the toughest and most grueling bike races for amateur riders; 7 stages and approximately 20,000 vertical meters of climbing. If you have what it takes to participate, let us know why you should win the coveted spot on team US SIGMA ROX.Please submit a photo that shows why you deserve the trip and spot on team US SIGMA ROX. If you are physically fit and ready for the adventure of a lifetime, submit your photo for consideration. If a picture is worth a thousand words, make sure yours tells a great story! We look forward to your entry.Visit to submit your photo. Entry deadline is March 15th, 2010.Want to provide even more information about yourself, visit us on Facebook and tell us why you deserve to win the trip to participate in the Tour TransAlp. (Photo submission is still required at Tour TransAlp takes place from June 27th-July 3rd, 2010. Check out for additional race information.last_img read more

Feds tighten belt by cutting agriculture reports

first_imgWhen farmers need to check honey prices so they can decide whether to sell, there’s been a report for that. And when catfish and sheep farmers want to check production in their industries, there’ve been reports for that, too.The U.S. Agriculture Department has kept tabs for decades on a wide range of agricultural industries that generate billions of dollars for the U.S. economy. But that’s about to change, as the agency eliminates some reports and reduces the frequency of others to save millions of dollars in tight budget times.advertisementadvertisement The reports influence the price and supply of many products that end up on American dinner plates. Without them, some farmers say they’ll be left guessing how much to produce and when to sell. Food processors and traders also will have less information when making decisions about buying and selling.South Dakota farmer Richard Adee said he used the annual honey and bee report to decide when to sell his honey. If the February report indicated a large supply nationwide, he’d sell before prices dropped. If the supply was short, he’d hold on to the honey and wait for prices to go up.”It’s really going to limit us to information for making future plans,” said Adee, one of the nation’s largest honey producers. “It’s not good. It’s not good we’re losing that.”Adee Honey Farms, based in Bruce, S.D, provide bees that pollinate crops and produce honey in the Midwest, California and Washington. Adee said he knows something must be done to deal with the federal deficit, but “they’re beating up on agriculture.”A spokeswoman for the USDA division that produces the reports said it didn’t want to cut them but it had to do something to save money. Eliminating or reducing the frequency of 14 crop and livestock reports will save the National Agricultural Statistics Service about $10 million, Sue duPont said. NASS’s $156 million budget was cut in the federal fiscal year that ended Sept. 30 and more reductions are expected this year as Congress and the White House aim to trim federal spending.advertisementThe agency based its choices on the reports’ impact on markets and use by other programs that provide assistance to farmers, along with the availability of information from other sources, DuPont said.”It was just tough decisions,” she said.Roger Barlow, executive vice president of Catfish Farmers of America, said the annual report on his industry tells his organization’s 800 members how many millions of tons of catfish are being produced in how many acres of water, how much is being held by processors and what prices are being paid. The information determines prices and guides farmers as they decide to expand or cut back production, he said.”Lots of decisions are made upon this,” Barlow said. “This information is used on a daily basis.”Mississippi is the leading catfish producer according to the latest and last report. But the farmers, who are mostly located in the South, hope NASS with reconsider its decision to dump the report.”I guess we’re just scratching a hole in our heads trying to figure out how we’re going to continue with what we feel is extremely important,” Barlow said.advertisementMost of the information in the reports being cut will still be included in the agricultural census, which is conducted once every five years. The one released in 2013 will reflect the state of farming in 2012.But the lack of annual reports “kind of limits what we have as far as information for making decisions on a year-to-year basis,” said Shane Ellis, a livestock economist at Iowa State University.Farmers in some industries may turn to trade organizations to collect information previously reported by NASS, while those in smaller ones, such as honey and catfish, might be able to get by without the data, he said.”It’s just the nature of the niche marketing in how it tends to be more of a market where everybody knows everybody else. … They have a good idea of where everything is going,” Ellis said.He speculated on the logic behind NASS’s decisions. For example, the agency is cutting its July report on the cattle industry but will keep a similar one in January. Ellis said the agency probably eliminated its sheep and goat report because sheep numbers haven’t changed much in recent years.But Steve Clements, who raises sheep near Philip, South Dakota, said the report would be particularly valuable right now because there’s a short supply of breeding ewes and no one is sure where sheep being shipped from drought-stricken Texas are ending up.”The ones that don’t affect you, you don’t think they need to do, I guess,” he said. PD—AP newswire reportlast_img read more