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Hutchison Telecommunications Limited (ASX:HTA) has reported a $168 million loss for the year to December 2011, compared to a profit of $73.4 million in the previous year.
The drop in profit has been attributed to a few factors including a $12 million decrease in interest income after the repayment of loans by Vodafone Hutchison during 2010.
The telco’s customer base at the end of the year had dropped to 7 million from 7.2 million at June 30, 2011.
CEO of Vodafone Hutchison Australia Nigel Dews says the company is continuing to invest in network and service and maintaining a tight control on cost.
No dividend has been declared.
News: Hutchison reports FY11 loss
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