China Telecom 2013 Net Profit Rises 17%

China Telecom Corp

reported a 17% gain in its 2013 net profit. China Telecom's net profit for the year surged to 17.55 billion yuan ($2.8 billion), versus a year-ago profit of 14.95 billion yuan. Its revenue jumped 14% to 321.58 billion yuan. China Telecom shares closed at $41.27 yesterday.