ZTE shares fall 17per cent to three-year low after profit warning

Written by: Paul Withers
ZTE shares fall 17per cent to three-year low after profit warning

Shares drop to lowest since 2009 as company warns profits for the first half of the year could decline by as much as 80 per cent

ZTE’s shares have fallen by 17 per cent after it warned profits for the first half of this year could drop by as much as 80 per cent compared to a year ago.

Shares at the Chinese equipment manufacturer fell to 10.32 Hong Kong dollars (86p) today – the lowest it has been since 2009.

The Chinese equipment manufacturer said on Friday that net income for the first six months of this year was expected to be between 154 million yuan (£15.5 million) and 308 million yuan (£31 million), down from 769.3 million yuan (£100.9 million) from the same period last year.

ZTE said the reason for the predicted decline in profits was lower investment income compared to 12 months ago, losses from foreign exchange and a drop in domestic revenue.

Leave a Reply

To advertise on this site, call 0203 122 0872

Recent Comments

There will be a version of the Apple Watch which will cost in excess of £10,000....
Written by a numpty! I don't think that the apple watch will be in the same price bracket as a Rolex...
Noted - thanks...
Please reread the penultimate paragraph - that quote doesn't say that microsoft is treading water - it says that Blackberry is: "While Microsoft is making significant effort to grow its prese...
What an ugly pig of a phone!...
I've always supported blackberry and am hoping that this phone helps them get back on to the road to redemption with their past and current customers. The BB10 rollout was a complete unmitigate...
The BlackBerry Z30 was released on October 1, 2013 - not "mid October" as you suggest. What was that you said about research? We tend to round dates off to the nearest month - rather than somethi...
Hi Chris, Our Mystery Shopper did do a review in Middlesbrough a few weeks ago - http://www.mobilenewscwp.co.uk/2014/09/09/mystery-shopper-middlesbrough/ However, we are looking at sending ...
How can you say in the little quip under the headline that this was the first BlackBerry released in a year? In your own article you have quoted Marty Beard as saying " We began rolling out the Z...
Your Mystery shopper surveys are always concentrated in the Southern regions.. Will you be planning on seeing how the northerners represent their respective brands?...

Social Media Feed