CITIC Telecom posts record $109.5m profit for 2016

Hong Kong-based CITIC Telecom International has reported a record high operating profit of HK$850.1 million ($109.5 million) for 2016, up 6% from the prior year.

During the year, CITIC Telecom launched its new City Link roaming services supporting data sharing in mainland China, Hong Kong and Macau, based on a network of more than four million Wi-Fi hotpots in the three markets.

This launched helped the operator capture a 57% share of Macau’s 4G market, and increase its mobile broadband users by 17%.

CITIC Telecom also achieved 100% coverage in Macau with its optical network, and completed the acquisition of 340,000 square feet for CITIC Telecom Tower, which once complete will become one of the largest data centers in Hong Kong.

Internationally, the company commenced the process of acquiring Linx Telecommunications, which serves 14 countries in Europe and Asia. This deal was completed last month.

The company also recently completed the acquisition of Singapore-based cloud, technology and managed services provider Acclivis Technologies and Solutions, and achieved growth with its data flow trading platform DataMall through a collaboration with China Mobile.