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SAIC Motor's profit up 6.95% in Q1

Apr. 28, 2012 (China Knowledge) –SAIC Motor Corp Ltd<600104>, China's No.1 carmaker, announced yesterday that its net profit attributed to shareholders grew 6.95% year on year to RMB 5.61 billion in the first quarter of this year.

According to a statement filed with Shanghai Stock Exchange, the automaker saw its operation revenue for the first quarter of this year increased 13.7% year on year to RMB 123.97 billion.

Basic earnings per share for the three month period were RMB 0.51, up 6.93% than a year earlier.

At the first three month of this year, SAIC Motor sold a total of 11.42million vehicles up 8.14% year on year, which consists of 3.8 million units sold in January, 3.67 million units sold in February and 3.95 million units sold in March.

Last year, the company’s operation revenue increased 18.89% year on year to RMB 434.8 billion and net profit attributed to share holders grew 23.38% than a year earlier to RMB 20.22 billion, sources reported.

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