Retail in Asia

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Lenovo 4Q profit soars 59pc, meets forecasts

Lenovo Group, the world’s number two PC maker by sales, reported a 59 percent rise in fourth-quarter net profit, meeting analyst expectations as strong demand in emerging markets such as China offset weakness in Europe.

Lenovo, which ranks just behind Hewlett Packard in PC sales, posted a net profit of USD472.99 million for the fiscal year ended in March, it said on Wednesday, versus a consensus forecast of USD472.2m from a poll of 29 analysts by Thomson Reuters I/B/E/S.

The PC maker recorded a net profit of USD273.2m a year earlier, it said in a statement posted on the Hong Kong stock exchange.

(Source: CNBC)