YOFC (06869.HK) net profit up 12.4 pct on yr in 2014
BEIJING, Mar. 30 (Xinhua) -- China's leading optical fiber supplier Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC, 06869.HK) announced last Saturday its net profit attributable to shareholders increased 12.4 percent year on year in 2014, to 466.3 million yuan.
Meanwhile, the company reaped 5,676.8 million yuan of operating revenue, up 17.6 percent year on year. Its revenue from domestic business grew 17.7 percent year on year, while its overseas business revenue went up 16.2 percent.
In a breakdown, 3,229.7 million yuan or 56.9 percent of the total revenue was contributed by YOFC's optical fiber preform and optical fiber segment, up 18.6 percent year on year; and 1,989.4 million yuan or 35 percent of the total was from the optical cable segment, up 9.5 percent year on year.
YOFC attributes the remarkable revenue growth to the ramped-up 4G construction by China's three telecom giants and the ongoing implementation of "Broadband China" strategy by the government. It forecasts the three telecom giants will continuously increase spending on the construction of 4G networks and Fiber-to-the-Home integrated broadband networks in 2015, thus the optical fiber and optical fiber cable market in China will remain promising this year. (Edited by Li Xiaoyu, Lixy@xinhua.org)