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Dongfeng auto expects 60% plunge in H1

Jul. 13, 2012 (China Knowledge) - Dongfeng Automobile Co Ltd<600006> announced that it expects its net profit attributable to shareholders to dropped about 60% to 70% in the first half of 2012.

In a statement filed with Shanghai Stock Exchange, the automaker said the huge decline was mainly caused by the weak sales of its heavy and light trucks.

In the first half of 2011, the company realized RMB 294.52 million in net profit, while its basic earnings per share were RMB 0.15 for the period.

Earlier this month, Dongfeng Automobile said that its auto sales fell 10.82% YoY to 149,300 units in the first half of this year, China Knowledge reported earlier.

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