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General

ZTE returns to FY profit after strong Q4

Monday 20 January 2014 | 12:01 CET | News
ZTE reported a sharp improvement in profitability for the fourth quarter and full year. The Chinese equipment maker said it expects to report an annual profit of CNY 1.2-1.5 billion for 2013, compared to a loss of CNY 2.84 billion in 2012. It earlier reported a profit of CNY 552 million for the first nine months of the year. The company said it implemented stringent cost controls and exited low-margin businesses last year in order to return to profit and boost cash flow. Sales, administrative and research and development expenses all were reduced compared to a year earlier. In addition to

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Categories: General
Companies: Sharp / ZTE Belgium
Countries: China / World
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Comments

Real creative accounting !!-would be good to see some accounts once in awhile
Anonymous @ 21/1/2014 - 13:07


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