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* Huawei's H1 revenues up 10.8 pct
* Expects net profit margin of 7-8 pct for 2013 vs about 7
pct in 2012
* On track to achieve 2012 revenues growth of 10 pct
SINGAPORE, July 24 Huawei Technologies Co Ltd
, the world's second largest telecom equipment maker,
said on Wednesday it was on track to achieve 10 percent revenue
growth in 2013 after posting a 10.8 percent increase in
Huawei also said it expected to generate a net profit margin
of 7-8 percent in 2013, compared with about 7 percent in 2012,
according to Reuters' calculations. The company did not give
other figures in its brief statement.
"Our success in the first half of 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," Huawei's CFO Cathy Meng said in the statement.
"From these positive indicators, we believe Huawei will
generate strong performance and profit margins in the second
half of this year," she added.
Huawei's sales growth in the first half was better than the
11.6 percent fall in first-half revenues flagged by competitor
ZTE Corp , the world's fifth largest
telecom equipment maker, this week.
ZTE, however, said it expects to net profits to increase
23.5 percent due to a series of cost-cutting measures and sales
of non-core assets.
Global rival Ericsson, the world's biggest mobile
network maker, also posted a second-quarter operating profit
that was well below expectations.
Last year, Huawei reported a 22 percent fall in its first
half operating profit due to weak spending in the telecom
sector. For the full year of 2012, its net profit rose by a
third after clinching new telecom projects and smartphone sales.
(Reporting by Lee Chyen Yee; Editing by Miral Fahmy)