China auto giant SAIC’s net profit up 6pc in first half

AFP, SHANGHAI: China’s biggest carmaker Shanghai Auto Industry Corporation (SAIC) has reported a rise in net profit of more than six per cent in the first half on stronger sales.
The firm made 15.06 billion yuan ($2.25 billion) in the first six months of the year, SAIC said in a statement last week to the Shanghai stock exchange, where it is listed.
The figure was 6.31 per cent higher than the 14.17 billion yuan in the same period last year.
SAIC sold a total of three million cars in January-June, up 4.9 per cent year-on-year, according to the statement, maintaining its position as the country’s biggest auto manufacturer by sales.
The company said a “stable growth trend” in the domestic auto market supported its earnings.

China auto giant SAICs net profit up 6pc in first half

AFP, SHANGHAI: Chinas biggest carmaker Shanghai Auto Industry Corporation (SAIC) has reported a rise in net profit of more than six per cent in the first half on stronger sales. The firm made 15.06 billion yuan ($2.25 billion) in the first six months of the year, SAIC said in a statement last week to the Shanghai stock exchange, where it is listed. The figure was 6.31 per cent higher than the 14.17 billion yuan in the same period last year. SAIC sold a total of three million cars in January-June, up 4.9 per cent year-on-year, according to the statement, maintaining its position as the countrys biggest auto manufacturer by sales. The company said a stable growth trend in the domestic auto market supported its earnings.