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Geely H1 net profit more than doubled
Shanghai, September 8 (Gasgoo.com) Chinese car manufacturer Geely Automobile Holdings Ltd said on Tuesday its first-half net profit more than doubled after it boosted stakes in five car-making associates.
Net profit for the six months ended June 30 was 595.9 million yuan($87.2 million), up from 242.8 million yuan a year earlier.
Revenue soared to 5.95 billion yuan from 67.1 million yuan a year earlier.
Geely Automobile completed a deal with its parent in July 2008 under which it increased it stakes in each of its five operating associates to 91% from 46.8%.
The five associated companies include Zhejiang Geely Automobile Co. and Shanghai Maple Guorun Automobile Co.
Bloomberg
Net profit for the six months ended June 30 was 595.9 million yuan($87.2 million), up from 242.8 million yuan a year earlier.
Revenue soared to 5.95 billion yuan from 67.1 million yuan a year earlier.
Geely Automobile completed a deal with its parent in July 2008 under which it increased it stakes in each of its five operating associates to 91% from 46.8%.
The five associated companies include Zhejiang Geely Automobile Co. and Shanghai Maple Guorun Automobile Co.
Bloomberg
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