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Jiangling Motors expects 2011 profit to rise 9.31%

Jan. 19, 2012 (China Knowledge) - Jiangling Motors Corp Ltd<000550><200550>, one of China's major car makers, announced yesterday that it expected its net profit to rise 9.31% year on year to RMB 1.87 billion in 2011.

The company said in a statement that its earnings per share were estimated at RMB 2.17 last year.

The company's unaudited net profit was RMB 17.46 billion in 2011, 10.71% more than in 2010.

The Shenzhen-listed company sold 194,588 vehicles last year, up 9% year on year. The sales of Ford brand vehicles were 58,595 units and sales of JMC vehicles totaled 67,916 units.

The automaker delivered 68,077 JMC pickup trucks and sport utility vehicles last year.

Jiangling Motors is due to release its annual report on March 16 this year.

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