China's Comba says H2 sales to surpass H1
BEIJING Oct 28 (Reuters) - China's Comba Telecom Systems (2342.HK), a wireless solutions provider, said second half revenue this year will exceed that of the first half as the country's telecoms carriers build their new 3G networks.
Comba, whose net profit tripled in the first half, driving its share price up nearly six-fold this year to date, was also looking at overseas mergers and acquisitions to help it expand beyond China, which now accounts for the bulk of its sales.
"We hope that M&A can bring us technology and access to overseas markets," Simon Yeung, Comba's chief operating and strategy officer, told Reuters in an interview.
The company hopes that overseas markets will make up half of total revenues after five years, from the current 4.4 percent.
Comba competes against U.S.-based Powerwave Technologies Inc (PWAV.O) and China GrenTech Corp GRRF.O.
The firm's Guangzhou plant will begin operations by the end of the year, and enable the firm to double its current capacity, said Yang.
China Mobile (0941.HK), the world's largest mobile carrier in subscribers, China Unicom (0762.HK) and China Telecom (0728.HK)
-- are in the middle of a $58.5 billion 3G expansion plan after -- are in the middle of a $58.5 billion 3G expansion plan after licences were issued earlier this year.
($=6.83 yuan)
(Reporting by Joanne Chiu and Kirby Chien; Editing by Jacqueline Wong)
((kirby.chien@thomsonreuters.com; +86 139 1050 7516; Reuters Messaging: kirby.chien.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: COMBA CHINA/
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