UK turnover soars 30% for Huawei

CONTROVERSIAL Chinese telecoms group Huawei Technologies saw turnover jump by a third in its UK division last year thanks to the continuing rollout of 4G wireless networks, fixed rural phone network connections and growing demand for smart TV products.

The group is restricted from working on sensitive phone networks in the US and Australia due to fears of Chinese espionage, but investigators at a specially setup monitoring centre said after a four-year study that Huawei did not pose a threat to UK security.

The firm is the second-largest telecoms supplier in the world and provides key technology for Britain’s landline and mobile phone networks.

Sales for the year to December 31, 2016 jumped 30.1 per cent from £699 million to £909 million, while pre-tax profits rose from £20 million to £37.8 million. The firm took a £10 million hit as a result of sterling’s fall.

Huawei faces a ban on selling its phones in the UK following a recent High Court ruling over its 4G patents.