Lenovo Group, the world's third-largest personal computer maker,
posted a net profit of USD66.84m in the second quarter of 2007,
compared with USD5.21m last year. Sales increased 13 per cent
year-on-year to USD4 billion. The main driver, the company says,
is a strong growth in shipments to the US, Europe and other parts in the
world.
The company said the earnings take account of a restructuring charge
of about USD45m in the first quarter. Lenovo's ongoing reshaping of
its global business saw it announce 1,400 job cuts (five per cent of
its workforce) earlier his year. The company plans to save USD100m by
March 2008. "In the past two years, through the formulation of the
right strategy and effective execution, Lenovo's performance is
showing signs of growth," says Chairman, Yang Yuanqing.
Lenovo currently controls 30 per cent of the Chinese PC market.
Shipments to overseas markets are growing fast, according to the
company. In the Americas, unit shipments increased 15 per cent, while
in Asia, exports jumped 12 per cent.
Last update : Monday, 06 August 2007
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