Mobile-phone distributor Global Tech (Holdings) has reported 51 per cent year-on-year attributable profit growth to HK$395 million for the year to September 30, helped by a 49 per cent jump in turnover to HK$4.06 billion. Vice-chairman Timothy Sy Ching-tang said the company had maintained its 10 per cent mainland market share and gross profit margin rose to 13 per cent from 10 per cent a year earlier. The company distributes Nokia and Samsung mobile phones primarily in China. It has exclusive distribution rights on some models. Inventory has risen 426 per cent to HK$334.4 million due mainly to a 10-week trade dispute between South Korea and China. Mr Sy said he was confident the 'temporary' situation would return to normal in three months after the dispute ended in August. Analysts said mobile phone supply from mainland manufacturers was expected to increase rapidly in the next few years, which would reduce prices and pressure margins. Mr Sy projected the company could see an annual reduction in gross margin of between 0.25 per cent and 0.75 per cent over the next few years but said sales growth would help offset that. The company plans to open 500 retail franchises in the mainland in two years. Earnings per share rose 24 per cent to 92 HK cents. A final dividend of 22 HK cents was declared.