Financial Report Financial reports from the largest companies of the world

The profit of Lenovo increased with 25% in the last quarter of 2010

One of the biggest companies producing computers in the world - China's Lenovo, reported profit growth of 25 per cent in the last quarter of 2010 on an annual basis. With a major contribution to this outcome are the appreciation of Chinese yuan and lower costs for components. The Lenovo's net profit for the period was 99.6 million dollars since the same quarter of previous year's positive result was 79.5 million dollars. Preliminary estimates of analysts was for earnings of 86 million dollars. The company, however, warn that growth could stall because of unclear economic situation in the U.S. and Europe.
"Growth in the global PC market slowed last quarter, due to the challenges facing the global economy and the debt crisis of some major markets," reported from Lenovo. However, the sales in the U.S. and Europe increased by 22 per cent and Lenovo in China increased sales by 18 percent.