China's Huawei books fastest profit growth in 4 years

SHENZHEN, March 31 Sun Mar 30, 2014 10:00pm EDT

SHENZHEN, March 31 (Reuters) - China's Huawei Technologies Ltd, the world's No.2 telecommunications equipment maker, matched company guidance by reporting its fastest profit growth in four years, powered by strength at home and in its enterprise and consumer businesses.

Net profit for 2013 rose 34.4 percent to 21 billion yuan ($3.38 billion), the company said in a statement on Monday.

Operating profit was 29.1 billion yuan, compared with the company's forecast range of 28.6 billion yuan to 29.4 billion yuan.

Revenue reached a record 239 billion yuan versus company guidance of 238 billion yuan to 240 billion yuan, as profit margins improved for the second year in a row. ($1 = 6.2122 Chinese Yuan) (Reporting by Yimou Lee in SHENZHEN; Writing by Paul Carsten in BEIJING; Editing by Christopher Cushing)

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