Huawei boosts sales, trims disclosure

Huawei says it’s on track to reach full-year targets but has trimmed its financial disclosures.

In the first six months of 2013, revenue reached 113.8 billion yuan ($18.54bn), up 10.8% over last year, Huawei said in a statement today. 

CFO Cathy Meng says the privately-held firm would reach its goal of 10% revenue growth for the full year, with a 7%-8% net margin.

But whereas last year Huawei’s mid-year guidance included operating profit and margin, it has omitted those from the 2013 statement.

Meng said growth was “steady” in the core carrier business and “fast” in the device group.

For full-year 2012 the Shenzhen-based vendor posted net earnings of 15.38 billion yuan on sales of 221 billion yuan ($35.35bn) – a margin of just under 7%.

Huawei is not obliged to issue any financial statements, but as part of its effort to burnish its image it publishes full-year and interim results and an annual report.