AGL 40.25 Increased By ▲ 0.25 (0.63%)
AIRLINK 127.75 Increased By ▲ 0.71 (0.56%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.76 Increased By ▲ 0.32 (0.77%)
DGKC 87.80 Increased By ▲ 0.95 (1.09%)
FCCL 32.50 Increased By ▲ 0.22 (0.68%)
FFBL 65.00 Increased By ▲ 0.20 (0.31%)
FFL 10.20 Decreased By ▼ -0.05 (-0.49%)
HUBC 109.60 Increased By ▲ 0.03 (0.03%)
HUMNL 14.56 Decreased By ▼ -0.12 (-0.82%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.52 Increased By ▲ 0.06 (0.8%)
MLCF 41.35 Decreased By ▼ -0.03 (-0.07%)
NBP 59.55 Decreased By ▼ -0.86 (-1.42%)
OGDC 193.70 Increased By ▲ 3.60 (1.89%)
PAEL 28.24 Increased By ▲ 0.41 (1.47%)
PIBTL 7.82 Decreased By ▼ -0.01 (-0.13%)
PPL 151.40 Increased By ▲ 1.34 (0.89%)
PRL 26.49 Decreased By ▼ -0.39 (-1.45%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 82.50 Decreased By ▼ -3.50 (-4.07%)
TELE 7.66 Decreased By ▼ -0.05 (-0.65%)
TOMCL 35.43 Increased By ▲ 0.02 (0.06%)
TPLP 8.18 Increased By ▲ 0.06 (0.74%)
TREET 16.11 Decreased By ▼ -0.30 (-1.83%)
TRG 52.75 Decreased By ▼ -0.54 (-1.01%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.24 Decreased By ▼ -0.02 (-1.59%)
BR100 9,951 Increased By 67.8 (0.69%)
BR30 30,875 Increased By 274.8 (0.9%)
KSE100 93,879 Increased By 523.7 (0.56%)
KSE30 29,084 Increased By 153.2 (0.53%)

Chinese technology giant Lenovo on Thursday said it recorded a $189 million net loss for its full fiscal year due mainly to a one-time charge, while saying it was planning an overhaul to broaden its appeal.
The Beijing-based company also reported a 69 percent decline in profit in its fourth quarter ending March 31. Quarterly profit was $33 million, compared to $107 million in the same quarter last year.
Revenue in the fourth quarter increased 11 percent year-on-year to 10.6 billion, the first double-digit increase in 10 quarters, while full-year revenue was up five percent, it said in a statement to the Hong Kong Stock Exchange.
Full-year profit was hit by a $400 million non-cash write-off charge from deferred income tax assets, the company said.
Lenovo continues to be weighted down by the poor performance of a subscale mobile segment despite an improved datacenter business, Johnathan Ritucci, a Bloomberg Intelligence analyst, wrote ahead of the release. "Its US PC franchise strategy also needs to be confronted quickly, as (rival Hewlett-Packard) continues to gain segment share," he said.
The company's shares rose more than four percent after the results were released, but later gave up most of those gains in the afternoon to sit 1.6 percent higher. However, the stock will be kicked out of Hong Kong's benchmark index next month, after plunging around 70 percent over the past three years.
Lenovo said it will combine its personal computer group, smart devices and mobile business into an "intelligent devices group", transforming itself from a single PC hardware company into multi-business group.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.