Lenovo tops analyst forecasts

Lenovo Group beat estimates with a 25 per cent jump in third-quarter net profit, its strongest result in more than two years, but a slowdown in its key home China market could affect its 2011 outlook. Economic uncertainty in mature markets such as the US and Europe might also offset the positive impact it gets from a strengthening Chinese currency and lower component costs. Lenovo, one of China’s best-known brands, reported October to December net profit of $99.6m, up from $79.5m a year ago, and beating expectations for a $86.2m net profit from analysts.