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Business News

Huawei expands

Huawei, the privately owned Chinese telecoms equipment company, is growing fast in Britain with revenues surging 12 per cent to £315.2m last year. Accounts for the UK unit show a pre-tax profit of £7.9m against £6.6m a year earlier. Most of Huawei's income comes from selling telecoms equipment to the big mobile and fixed-line operators. The Chinese group has committed to invest £1.3bn in the UK.