Dongfeng Motor 08 profit up 7% on strong sales

By Ally
Chinese automaker Dongfeng Motor Group Co said Tuesday its 2008 net profit rose 7.1%, mainly on strong growth in vehicle sales during the first half of the year.
 
Net profit for the year ended Dec. 31 totaled 4.04 billion yuan ($591.5 million), up from 3.77 billion yuan a year earlier. Revenue rose 19% to 70.57 billion yuan from 59.32 billion yuan. It recommended a final dividend of 0.045 yuan, unchanged from 0.045 yuan in the previous year.
 
The company said it sold 1.06 million vehicles in 2008, up 11% from the same period a year earlier. The company had set a sales target of 1 million vehicles for 2008.
 
It has said its passenger cars account for about 70% of total sales, with commercial vehicles accounting for the rest.
From:Gasgoo.com

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