{"id":51648,"date":"2023-05-25T00:00:00","date_gmt":"2023-05-25T00:00:00","guid":{"rendered":"http:\/\/southafricajournal.com\/?guid=1595e2815574c4019a9a0e4033b18289"},"modified":"2023-05-25T00:00:00","modified_gmt":"2023-05-25T00:00:00","slug":"lenovo-delivers-stable-profit-in-transformation-year","status":"publish","type":"post","link":"https:\/\/southafricajournal.com\/lenovo-delivers-stable-profit-in-transformation-year\/","title":{"rendered":"Lenovo delivers stable profit in transformation year"},"content":{"rendered":"<p>by TINTSWALO BALOYI JOHANNESBURG, (CAJ News)  LENOVO has announced Group revenue of US$62 billion and net income of $1,6 billion for the 2022\/23 financial year.The latter is $1,9 billion on a non-Hong Kong Financial Reporting Standards (HKFRS) basis.<\/p>\n<p>The Chinese firm reported profitability was stable with gross margin and operating margin both delivering 18-year highs and non-HKFRS net margin flat year-to-year.While softness in the device market impacted group revenue, revenue from non-PC businesses reached a fiscal year high of nearly 40 percent, fueled by Lenovo&#8217;s diversified growth engines of Solutions and Services Group (SSG) and Infrastructure Solutions Group (ISG) growing revenue to record highs of $6,7 billion and $9,8 billion respectively, up 22 percent and 37 percent year-on-year.<\/p>\n<p>&#8220;Lenovo has delivered stable profitability in the last fiscal year as our diversified growth engines continue to hit new milestones,&#8221; Yuanqing Yang, Chairman and Chief Executive Officer, stated.&#8221;Our clear strategy is working, and our operation is resilient, even in the face of global uncertainties.<\/p>\n<p> Going forward, we will continue to invest in RandD to capture the next wave of growth opportunities, so we are well prepared for the future.&#8221;RandD is research and development.<\/p>\n<p>Lenovo increased its full year investment in RandD to $2,2 billion, up 6 percent year-to-year.Lenovo&#8217;s Board of Directors declared a final dividend of 3,8 cents or 30 HK cents per share for the fiscal year ended March 31, 2023.<\/p>\n<\/p>\n<p>Source: CAJ News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by TINTSWALO BALOYI JOHANNESBURG, (CAJ News)  LENOVO has announced Group revenue of US$62 billion and net income of $1,6 billion for the 2022\/23 financial year.The latter is $1,9 billion on a non-Hong Kong Financial Reporting Standards (HKFRS) basis.Th&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - 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