Chinese personal computer maker Lenovo Group ( LNVGF.PK, LNVGY.PK) Thursday said profit in the fourth quarter jumped 90 percent from last year, aided by higher sales.
Profit attributable to equity holders surged to $127 million from $67 million in the prior year. Earnings per share rose to $1.20 from $0.63.
Sales grew 4 percent to $7.83 billion from $7.5 billion.
Lenovo's Board of Directors declared a final dividend of 1.81 US cents, or 14.0 HK cents per share for the fiscal year ended March 31, 2013.
According to Lenovo, compared to an overall industry decline of more than 13 percent year-over-year, Lenovo grew at a 14 point premium to the market, besting the industry for the 16th quarter in a row.
For the 2012/13 fiscal year, Lenovo's PC shipments grew 10.2 percent year-over-year, compared to an overall industry decline of 8.1 percent during this same period.
Yang Yuanqing, Lenovo CEO, said, ''Despite a challenging macro-economic environment and ongoing PC industry transformation, Lenovo delivered a strong performance in the 2012/13 fiscal year. Not only were we the fastest growing among all major PC players, with record market share, revenue and profitability, more importantly, our smartphone and tablet businesses saw dramatic growth."
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