AGL 38.00 Decreased By ▼ -0.02 (-0.05%)
AIRLINK 207.02 Increased By ▲ 9.66 (4.89%)
BOP 9.61 Increased By ▲ 0.07 (0.73%)
CNERGY 6.02 Increased By ▲ 0.11 (1.86%)
DCL 9.00 Increased By ▲ 0.18 (2.04%)
DFML 37.30 Increased By ▲ 1.56 (4.36%)
DGKC 96.90 Increased By ▲ 0.04 (0.04%)
FCCL 35.70 Increased By ▲ 0.45 (1.28%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 13.49 Increased By ▲ 0.32 (2.43%)
HUBC 128.49 Increased By ▲ 0.94 (0.74%)
HUMNL 13.70 Increased By ▲ 0.20 (1.48%)
KEL 5.41 Increased By ▲ 0.09 (1.69%)
KOSM 7.09 Increased By ▲ 0.09 (1.29%)
MLCF 45.00 Increased By ▲ 0.30 (0.67%)
NBP 60.75 Decreased By ▼ -0.67 (-1.09%)
OGDC 217.38 Increased By ▲ 2.71 (1.26%)
PAEL 40.89 Increased By ▲ 2.10 (5.41%)
PIBTL 8.39 Increased By ▲ 0.14 (1.7%)
PPL 194.39 Increased By ▲ 1.31 (0.68%)
PRL 39.50 Increased By ▲ 0.84 (2.17%)
PTC 26.74 Increased By ▲ 0.94 (3.64%)
SEARL 107.40 Increased By ▲ 3.80 (3.67%)
TELE 8.51 Increased By ▲ 0.21 (2.53%)
TOMCL 35.65 Increased By ▲ 0.65 (1.86%)
TPLP 13.52 Increased By ▲ 0.22 (1.65%)
TREET 23.08 Increased By ▲ 0.92 (4.15%)
TRG 61.15 Increased By ▲ 5.56 (10%)
UNITY 33.25 Increased By ▲ 0.28 (0.85%)
WTL 1.68 Increased By ▲ 0.08 (5%)
BR100 11,942 Increased By 215.3 (1.84%)
BR30 36,911 Increased By 534.7 (1.47%)
KSE100 112,091 Increased By 2577.5 (2.35%)
KSE30 35,325 Increased By 811.9 (2.35%)

Tech giant Lenovo Group Ltd on Thursday reported a market-beating three-fold surge in quarterly profit helped by strong personal computer (PCs) sales, and said its production plans had not been affected by the ongoing Sino-US trade war. Still investors, worried that the conflict was morphing into a technology cold war, dumped shares of Asian tech companies, with Lenovo's stock price falling as much as 6.3% to its lowest in nearly four months.
Dual-headquartered in China and the United States, the world's largest PC maker on Thursday said it is "well poised to navigate the turbulence in the geopolitical and macro-economic environment". The United States has sought to address what it believes is imbalanced trade with China, unleashing waves of tit-for-tat import tariffs on billions of dollars worth of goods.
Lenovo said it was less exposed to the US market than competitors and that most of its products are not subject to the new tariffs. "We definitely don't want to see this situation," Chairman and Chief Executive Officer Yang Yuanqing told Reuters in an interview. Lenovo's net profit in the fourth quarter ending March rose more than three fold to $118 million from a year prior when it suffered a writedown. The result compared with the $91.4 million average of seven analyst estimates compiled by Refinitiv.

Copyright Reuters, 2019

Comments

Comments are closed.