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Huawei grows FY net profit 33%

2015-03-31 09:00:00| Telecompaper Headlines

(Telecompaper) Huawei reported net profit up 32.7 percent in 2014 to CNY 27.9 billion (USD 4.5 billion), and revenues rose 20.6 percent to CNY 288.2 billion. Growth was strongest at its consumer division, where sales rose 32.6 percent to CNY 75.1 billion on increasing smartphone sales and strong demand in emerging markets. The enterprise division posted sales up 27.3 percent to CNY 19.4 billion, led by growth in cloud data centre and networking products. At the main division carrier networks, Huawei increased sales 16.4 percent to CNY 192.1 billion. In addition to solid revenue growth, Huawei said profits were also helped by streamlined management and efficiency improvements. It also continued to invest heavily in R&D, with spending at CNY 40.8 billion in 2014, equal to 14.2 percent of revenue and up 29.4 percent from 2013. The company generated net cash flow of CNY 77.9 billion last year, and finished 2014 with debt of CNY 28.1 billion. 

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Prada profit takes a hit from China

2015-03-30 06:42:08| BBC News | Business | UK Edition

Italian luxury goods retailer Prada sees its net profit fall 28% last year as sales slumped in major markets of China and Europe.

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China Eastern profit surges 45%

2015-03-30 06:31:24| Airlines - Topix.net

China Eastern Airlines Corp. posted a 45% increase in 2014 profit, as strong growth in air traffic and lower fuel prices more than offset foreign exchange losses. The Shanghai-based carrier said on Friday that net profit last year was 3.42 billion Chinese yuan , according to Chinese accounting standards, up from CNY2.36 billion the previous year.

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CNOOC posts 6.5% rise in 2014 profit, vows cost cuts amid low oil prices

2015-03-27 14:51:16| Oil & Gas - Topix.net

CNOOC, China's third largest oil company, reported a net profit of 60.2 billion yuan for last year, up from 56.5 billion yuan a year earlier. That beat a consensus forecast of 52.3 billion yuan from 23 analysts polled by Thomson Reuters.

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Blackberry posts profit for quarter

2015-03-27 14:44:53| BBC News | Business | UK Edition

Canadian mobile phone firm Blackberry posts better-than-expected fourth quarter earnings. but its revenues showed a larger-than-expected drop.

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