ZTE Corporation (00763) said its net profit attributable to shareholders for the nine months ended 30 September 2014 surged 232.04% year-on-year to Rmb1,832 million.
Its basic and diluted earnings per share were Rmb53 cents. Operating revenue amounted to Rmb58,801 million, an increase of 7.78% from a year earlier.
For the three months ended 30 September 2014, ZTE's net profit jumped 191.12% year-on-year to Rmb703 million. Operating revenue grew 23.75% to Rmb21,103 million.
For the year ended 31 December 2014, ZTE expects accumulated net profit to rise in the range of 84.14% to 106.24% year-on-year to around Rmb2.5 billion to Rmb2.8 billion. Such expected growth was mainly attributable to expected continuous improvements in contract profitability and enhancements in asset quality in 2014. Benefitting from ongoing commencement of 4G constructions in the PRC market and the implementation of the Group's M-ICT Strategy, the Group is reporting positive performance in profitability and expects sound growth in operating revenue for 2014 as compared to the previous year.
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