(6 February 2015, Hong Kong) – Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group”, Hong Kong stock code: 2342), a leading global wireless solutions provider, today announced that the Group expects to achieve a turnaround by recording a net profit of not less than HK$140,000,000 for the year ended 31 December 2014 as compared to the net loss of HK$240,722,000 last year.
The turnaround of the Group’s results during the year of 2014 is mainly attributable to (i) a satisfactory growth in its total revenue of not less than 10% due to the aggressive rollout of 4G networks in Mainland China and the strong demand for mobile network solutions in the global market; (ii) an improvement of gross profit margin of not less than 1 percentage point due to the optimization of product mix and the launch of high-end products, and (iii) a reduction of not less than 3 percentage points in the operating expenses as a percentage of total revenue of the Group attributable to economies of scale and the effective cost control measures.
Mr. Zhang Yue Jun, Vice Chairman & President of Comba Telecom, said, “The expected turnaround of the Group for the year of 2014 greatly encourages both the Group and its shareholders. Though facing a changing and challenging environment during the year, management has managed to seize the opportunity and improve the business performance, fully demonstrating the Group’s strong capabilities and solid foundation. We believe that the strong demand driven by network upgrades and our innovative technologies can help to drive the sustainable development of the Group in 2015.”
~ End ~