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(Pocket-lint) - HTC has posted its unaudited financial results for the second quarter and it's not only doing better than it did last year, the company is turning a tidy profit, helped largely by a successful launch of its critically well-received flagship phone.

The HTC One (M8) is a major factor in why HTC has posted an NT$2.26 billion (£44 million) net profit after tax. In the same period last year, the company's profits were NT$1.25 billion (£24 million), so while it is still some way short in comparison to major rivals like Samsung and LG, it is on the road to full recovery after more troubling times.

Shareholders must also be happy as the actual results are higher than previous analyst forecasts. The profit estimate was original NT$2.17 billion (£42 million).

READ: LG G3 or HTC One (M8): Which is better?

The metal-bodied HTC One (M8) has recently been joined by a plastic equivalent, HTC One (E8), which also ditches the Duo Camera for a regular 13-megapixel sensor in order to make it more affordable. It's currently available in China but should be rolled out across the globe soon.

In addition, HTC has been heavily tipped to be working with Google on a Nexus tablet device, most likely the elusive Nexus 8.

These projects and more will help to further cement the fact that HTC is back and growing stronger by the day.

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Writing by Rik Henderson. Originally published on 3 July 2014.