Chinese telecoms hardware maker Huawei says that its profits for the first half of the year were up 10 per cent, after posting its operating interim results for 2013.
It follows an increase in revenue of almost 11 per cent over the same period, with the company generating CNY 113.8 billion ($18.6bn, £12.1bn) in the first six months of this year. Based on its financial indicators, Huawei expects a profit margin of between seven and eight per cent.
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"Our success in the first half of 2013 was mainly driven by the steady growth of the Carrier Network business, the expansion of the enterprise business, and the fast growth of the consumer business, as well as the continuous enhancement of our overall operational efficiency. Revenues and profit are in line with our expectations," said Huawei chief financial officer Cathy Meng.
"From these positive indicators, we believe Huawei will generate strong performance and profit margins in the second half of this year and are confident that we will achieve our goal to increase revenue by 10 per cent," she added.
A statement from the company, the world's second largest telecoms equipment manufacturer, added extra information about its plans for the immediate future.
"Looking ahead, we will continue to focus on our pipe strategy, increase investment in core growth areas for the business, and boost efficiency through a series of operational and management reviews and improvements.
"Huawei will also create more value for our customers by providing them with even more innovative and competitive products and services," it said.
The company recently revealed that it is working on 5G technology, with plans for it to be ready for use by 2020 - that came just two months after rival Samsung, which is planning a major expansion into telecoms equipment, made similar claims.
Despite its success in the global telecoms equipment sector, Huawei is often viewed with suspicion overseas, with questions frequently arising about its links to the Chinese government and cyber espionage.
Indeed, the UK government has launched a review into Huawei's British cyber security centre, following concerns outlined by the parliamentary Intelligence and Security Committee about foreign involvement in critical national infrastructure.
Huawei edged out the now-defunct UK manufacturer Marconi - formerly GPT - for a major part in telecom operator BT's 21st Century Network initiative, with a highly competitive bid against Marconi's highly rated equipment.
That failure to win business in its home country led to the subsequent break up and sale of Marconi, with the rump telecoms equipment business going to Ericsson.
