China’s consumer electronics giant TCL Corporation forecast on Sept 25 a year-on-year surge of 530 to 720 percent in its net profit in the third quarter on robust revenue growth.

That represents an acceleration from the 241.7 percent annual increase in net profit for the first half of this year.

Net profit in the third quarter will reach 240 million yuan ($37.6 million) to 310 million yuan, the company said in a statement to the Shenzhen Stock Exchange, where it’s listed.

The company is expected to rake in 780 to 850 million yuan in the first three quarters, 300 to 335 percent up from the same period of last year, said the statement.

It attributed the profit surge to swelling sales of liquid crystal display televisions, smart phones and home appliances.

Earnings per share could reach 0.0283 to 0.0366 yuan in the third quarter, said the company.

TCL Corporation’s share price lost 0.47 percent to end at 2.10 yuan at the close on Sept 23 in Shenzhen.

Source:cnbusinessnews