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Guangzhou Automobile Group's H1 net profit down 15.15%

Aug. 28, 2012 (China Knowledge) - Guangzhou Automobile Group Co Ltd<601238><2238>, a major automaker in South China, announced yesterday that its net profit fell 15.15% YoY to RMB 1.48 billion in the first half of this year.

Earnings per share were RMB 0.24 during the period, down 14.28% YoY. The company proposed an interim dividend of RMB 0.7 per ten shares.

Operating revenue rose about 5.67% YoY to RMB 5.48 billion in the first six months.

Guangzhou Automobile Group, together with its joint ventures, sold 369,700 vehicles in the period, reflecting a growth of 17.25% YoY. The growth rate was higher the industrial average of 2.93%.

The sales volume of passenger cars increased 15.32% YoY to 351,800 units in H1, and that of commercial vehicles surged 75.43% to 17,800 units.

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