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Guangzhou Automobile's profit down 58% in Q3

Nov. 1, 2012 (China Knowledge) - Guangzhou Automobile Group Co Ltd<601238><2238>, a major automaker in South China, has posted a net profit of RMB 357 million for the third quarter of this year, reflecting a YoY decrease of 58.36%.

Basic earnings per share for the period were RMB 0.06, down 60.21% from a year earlier.

From July to September, the automaker saw its operation revenue hit RMB 3.17 billion, more than RMB 2.45 billion it realized in the third quarter of last year.

In the first nine months of this year, the Shanghai and Hong Kong listed company's operation revenue totalled RMB 8.65 billion, 13.23% more than in the corresponding period of 2011. while its net profit for the period decreased 29.37% YoY to RMB 1.84 billion.

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