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ZTE net profit increases 43% in H1

2015-07-21 12:41:00| Telecompaper Headlines

(Telecompaper) ZTE said it expects to report a 43 percent increase in net profit for the first half of 2015 to CNY 1.61 billion (USD 260 million), thanks to strong sales of LTE network systems. The preliminary results show operating revenue up 21.9 percent year-on-year to CNY 45.94 billion, and the operating result moved to a profit of CNY 66.28 million from a loss of CNY 210.05 million a year ago. ZTE said it saw higher sales in the first half from FDD LTE equipment, as well as wireline switch and access systems, mainly in its home market China. In addition, contract profitability improved in the period. Revenue in the Enterprise and Government ICT Solutions division also increased, driven by new smart city deployments and higher sales to rail operators. The company will give a full interim earnings report 26 August. 

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