Lenovo Delivers Record Quarter Results and New Fiscal Year Milestone
Lenovo Group had record results for both its fourth quarter and fiscal year, with growth across all parts of the business. The group said in a statement that the results demonstrate resilience and ability to achieve balanced, consistent, and sustainable growth as it continues to diversify and transform in line with its corporate strategy.
Fourth quarter Group revenue grew at 48% year-to-year to US$15.6 billion. Profit recorded its highest growth rate in two years with pre-tax income of US$380 million and net income of US$260 million, up 392% and 512% respectively. The Q4 results closed out a record year, with annual Group revenue surging past US$60 billion, adding more than US$10 billion on the previous fiscal year. Profit grew even faster, with pre-tax income of almost US$1.8 billion and net income of US$1.2 billion, both up more than 70% year-on-year. Lenovo’s Board of Directors declared a final dividend of 3.09 US cents or 24 HK cents per share for the fiscal year ended March 31.
“Last quarter, we delivered our fastest growing quarter in almost a decade and closed the fiscal year with the new milestone of passing US$60 billion in revenue and significant growth in profit to a new record. These historic highs were achieved by leveraging our core competencies of a clear strategy, innovative products, operational excellence, and global-local model to meet the new needs in the New Normal.” said Yuanqing Yang, Lenovo Chairman and CEO. “Looking forward, we will capture the huge growth opportunities created by the market trends of information consumption upgrade, infrastructure upgrade and application upgrade to drive long-term sustainable growth and ensure we can build an even smarter future in the years ahead.”