Leasing fee discount leads to China Telecom profit increase

China Telecom announced an interim net profit of $3.75 billion for the six months to June 30, a 6.3 per cent rise on the same period last year. Operating revenue was $15.87 billion, giving earnings per share of 32 cents. The company said the difference from last year's result was due to the introduction of an extra 10 per cent volume discount on standard leasing fees.