Huawei posts profit increase
20/06/2006 14:12:38
Huawei Technologies has announced its profits increased from $624 million in 2004 to $681 million last year.
Overseas sales totalled $4.8 billion, accounting for 58 per cent of Huawei's total sales revenue and exceeding domestic sales for the first time, according to the China Business News.
This year sales revenue is expected to hit $10.7 billion compared with last year's $8.2 billion, the company previously announced.
The newspaper reported that Huawei recorded a 27 per cent compound annual growth rate in revenues from 2001 to 2005.
China's biggest private telecommunications equipment maker is yet to publish its annual report.
Huawei's finances are managed by IBM Consultancy and PriceWaterhouseCoopers to help it carry out management transformation in order to adhere to international industrial benchmarks. 
© Adfero Ltd.
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