Trending News

Blog Post


China’s Geely Automobile first-half profit up 4% By Reuters 

© Reuters. FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016 auto show in Beijing, China April 25, 2016. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) – China’s Geely Automobile Holdings (OTC:) Ltd said on Wednesday its first-half net profit grew 4%, as the world’s biggest car market recovers.

Hangzhou-based Geely, China’s highest-profile automaker globally due to the group’s investments in Volvo Cars and Daimler AG (DE:), posted January-June profit of 2.38 billion yuan ($367.20 million), versus 2.3 billion yuan in the same period a year earlier.

Geely Automobile sold 630,237 cars in the first six months this year, up 19% from a year earlier, as auto sales in the world’s biggest market recover from the COVID-19 pandemic. The company expects to sell 1.53 million cars this year.

Geely’s revenue rose 22% to 45 billion yuan in the period.

In June, Geely said it would scrap plans to list new shares on the mainland’s Nasdaq-like STAR Market after it abandoned a merger plan with sister company Volvo Cars in February.

($1 = 6.4814 )

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Related posts

Leave a Reply

Required fields are marked *