8Telecom International Holdings Co., the developer and manufacturer of telecommunications infrastructure and equipment in China, has posted a record full-year net profit of RMB72.1 million ($14.9 million) for the financial year ended 31 December 2009 (FY2009), representing a 477.6% y-o-y increase compared to FY2008.

Revenue from continuing operations rose 101.9% y-o-y to RMB554.5 million from RMB274.6 million backed by strong sales from all three telecommunication business units on strong demand for 3G-related infrastructure in China.

Sales from the Telecommunications & Other Towers segment surged 100% while the Telecommunication Pipes and Telecommunications Engineering Services segments achieved revenue growth of 11.5% and 30.9% respectively.

The group also recorded sales of about RMB149.4 million from the sale of 16,568 sqm of office space in its Linping Times Square project, which was completed only in September 2009. The project has a build-up area of 36,896 sqm and more sales are expected in FY2010.

Gross profit from continuing operations jumped 137.2% y-o-y to RMB189.4 million with RMB75.7 million in contribution from the higher-margin property development business. The three telecommunication units achieved a 42.3% jump in gross profit to RMB113.7 million in line with higher sales as gross margins remained relatively stable compared to FY2008.

8Telecom is proposing a final dividend of 62.2 cents, bringing total dividend to $1.807 cents or 58.2% of FY2009 earnings. The directors are also proposing a 10:1 bonus share issue of 1 bonus share for every 10 ordinary shares.