Monday, November 18, 2019
Martin Hennecke

Lenovo net profit rises 48pc
Lenovo (0992) posted a net profit increase of 48 percent to US$364 million (HK$2.84 billion) for the six months ended September 30 and declared an interim dividend of 6.3 HK cents. The increase was driven by a year-on-year gross profit margin expansion of 2.8 percentage points to 16.3 percent from a favorable sales mix shift in its personal computer and smart device business and its mobile business turning a profit. Revenue for the half-year rose 3 percent year-on-year to US$36.03 billion and earnings per share was 3.06 US cents. Lenovo saw its PC shipments outgrow the market by 8 percentage points. Chief executive Gianfranco Lanci said that expects the rise in components prices will continue into early next year. Shares of the company slid 0.33 percent to HK$6.05 yesterday.
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