| ZTE expects profit to decrease |
| Wednesday,July 05,2006 Posted: 07:14 BJT(2314 GMT) Shenzhen Daily |
BEIJING, July 5 -- ZTE Corp., China’s second-largest telecom equipment maker, said it expected a decrease in net profit for the first half of 2006. “Based on preliminary calculations, the company expects a year-on-year decrease in net profit for the six months ended 30 June 2006,” Shenzhen-based ZTE said in a statement issued yesterday. ZTE gave no further details on the decrease. It posted a net profit of 660.4 million yuan (US$82.6 million) for the first half of 2005, with revenue of 10.3 billion yuan. ZTE said revenue from its international business for the first half of 2006 was expected to grow 35 to 50 percent from the same period in 2005, but said it was not in a position to accurately anticipate the growth rate of its international business for all of 2006. Revenue of the international business was 3.15 billion yuan in the first half of 2005, the company added. In April, ZTE said its net profit fell more than 85 percent in the first quarter due to adjustments in its capital expenditure. |
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