Chinese IT giant Huawei are looking to make strong gains over the coming years, capitalising on strong profits and results from 2012 published on Monday.

Posting revenues of over £23 billion , with a net profit increase of 32 percent from the previous year.

The company saw strong results in both its network division and its enterprise division.

The posting of strong results comes despite the difficulties the company has faced in its U.S. sectors, with the criticism of China’s suspected links to cyber-attacks having impacted Chinese business intrests in western countries.

Huawei succeeded in expanding in both Europe and the U.S. despite the associated controversies.

The company is looking to develop growth with expectations of achieving a compound growth rate of 10 percent within the next five years.

Guo Ping, acting CEO of Huawei said: "In 2012, Huawei met business performance expectations through improved operational efficiency".

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