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Geely Automobile's net profit up 8.7% in H1

Aug. 23, 2012 (China Knowledge) - Geely Automobile Holdings Ltd<0175>, the listed unit of China's largest privately-owned carmaker Zhejiang Geely Holding, has said yesterday that its net profit rose 8.7% YoY to RMB 1.02 billion in the first half of this year, boosted by steady auto sales and improving gross profit margin.

Earnings per share were nearly RMB 0.14 during the period, up 8.5% YoY. No interim dividend was declared.

The company's revenue reached RMB 11.18 billion in the first six months, up 6% from the same period of last year.

The auto maker sold 222,000 vehicles in H1, having achieving 48.3% of its sales target for this year. The company saw its auto exports surge 210% YoY in the period, a growth much higher than the national average.

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