Gasgoo.com (Shanghai April 28) - SAIC Group has just released its first quarter financial performance review, Gasgoo.com (Chinese) reported today. The manufacturer was able to maintain steady growth in income, profit and net profit over the first three months of the year.
According to the review, SAIC earned a total of 123.97 billion yuan ($19.67b) in business returns last quarter, 13.7 percent higher than the 108.99 billion yuan ($16.75b) it earned in the first quarter of 2011. The manufacturer's sales grew 8.14 percent, with a total of 1.14 million vehicles sold.
SAIC's gross and net profits totaled 11.45 billion yuan ($1.82b) and 5.61 billion yuan ($889.59m) in the quarter. The former figure is very close to what it was last year, however the latter represents year-on-year growth of 6.95 percent. The manufacturer's cash flow was 6.05 billion yuan ($959.78m) in the quarter, growing 21.83 percent from 2010.
