Huawei posts 11% revenue increase for H1 2013

Huawei posts 11% revenue increase for H1 2013

Continued growth in the carrier network business has helped Shenzhen-based Huawei generate 113.8billion Chinese Yuan in revenues for the first six months of 2013.

The results show an increase of 10.8% year on year. Due to this solid growth, and positive performance from its enterprise and consumers businesses, Huawei expects to post a net profit margin of 7%-8% for 2013.

“Our success in H1 2013 was mainly driven by the steady growth of the carrier network business, the expansion of the Enterprise business, and the fast growth of the consumer business, as well as the continuous enhancement of our overall operational efficiency. Revenues and profit are in line with our expectations,” said Cathy Meng, CFO at Huawei. “We believe Huawei will generate strong performance and profit margins in the second half of this year and are confident that we will achieve our goal to increase revenue by 10%.”

The company also said that it will be continuing to focus on its pipe strategy, will increase investment in particular areas and undertake a number of “operational and management reviews and improvements.”

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