Mainboard-listed 8Telecom International Holdings Co., the manufacturer and solutions provider of telecommunication infrastructures and emerging property developer in China, announced net profit soared to RMB119.1 million ($23.3 million) for the three months ended 30 September 2010 (3Q2010) from RMB8.2 million a year ago.

3Q2010 turnover improved by 32.4% to RMB122.7 million from RMB92.7 million in 3Q2009, growth was driven by the group’s two telecommunication-related businesses namely its telecommunications engineering services and telecommunications & other towers segments.

Sales of telecommunications engineering services jumped 72.7% yoy to RMB22.1 million in 3Q2010, backed by the continued network optimization activities carried out by China’s telecom operators. Revenue for its telecommunications & other towers segment also grew 20.4% yoy to RMB44.9 million due to strong demand for its in-house developed telescopic tower products. The Group also received RMB14.5 million in 3Q2010 from the sale of 1,695 sqm of office space in Linping Times Square.

Gross profit outpaced revenue growth, surging 116.4% yoy to RMB53.2 million for 3Q2010 as a result of the contributions from its higher-margin telecommunications engineering services and property development segments. Consequently, gross margins improved to 43.4% in 3Q2010, from 26.5% in 3Q2009.