Sinotel Technologies posts 23% lower 2Q net profit of $5.1m

Mainboard-listed Sinotel Technologies, the provider of wireless telecommunications infrastructure and solutions in China, has announced a net profit attributable to equity holders for the second quarter ended 30 June 2011 (2Q11) of RMB27.1 million ($5.1 million), a fall of 23% from RMB42.5 in 2Q10.

Total revenue of the group for 2Q11 declined by RMB34.5 million (20.5%) compared to the same period last year, primarily due to a decrease in indoor and outdoor wireless projects of RMB21.8 million, sales of equipment of RMB20.4 million and EMCS (Emergency Mobile Communications System) of RMB3.0 million. However, the decrease was offset by a rise in services-related projects of RMB11.1 million.