Hutchison Whampoa, the Hong Kong conglomerate controlled by tycoon Li Ka-shing, yesterday reported continued improvement at its 3G telecommunications unit, despite nagging problems at the company's Italian arm.
Losses before interest and tax at Hutchison's 3 Group narrowed 39 per cent in 2008, to HK$10.857bn ($1.4bn).
“The most difficult time has passed,” said Canning Fok, Hutchison managing director. The company added that its 3G networks are on track to achieve positive earnings before interest and tax this year.
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