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Hutchison AU posts $587m profit on Vodafone merger

Hutchison AU posts $587m profit on Vodafone merger

Hutchison Telecom Australia (ASX:HTA) has recorded a 2009 net profit of $587 million on the strength of the Vodafone-Huchison merger.

The company, which owns a 50% stake in Vodafone Hutchison Australia (VHA), said its net loss before the gain from the merger was $119.6 million.

Underlying service revenue attributable to Hutchison grew 28.4% to $1.9 billion.

The company meanwhile has called an annual general meeting, during which shareholders will vote on re-electing directors Fok Kin-ning Canning and Frank John Sixt and replacing current auditor PriceWaterHouse Coopers with VHA auditor Deloitte.

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Tags Hutchison Australiaaudit2009 Financial Resultsvha

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