HONG KONG (Yosefardi) – Geely Automobile Holdings Limtied booked net profit of RMB1.4 billion in six months ended 30 June 2013, grew by 36% from RMB1.02 billion in the same period of last year.
Revenue increased to RMB14.85 billion from previous RMB11.17 billion. Cost of sales reached RMB12.01 billion compared to RMB9.23 billion a year earlier. Its assets totaled RMB18.75 billion while liability amounted RMB15.34 billion.
The Group’s performance in the first half of 2013 was better than expectations on the back of stronger demand for motor vehicles in China during the period.
In particular, the sales volume of local brand sedans in China continued to recover in the first half of 2013, up 13% from the previous year, compared with 7% decline in the same period last year.
As a result, the Group’s sales volume in the China market was up 17% from the same period in 2012. The Group’s export sales volume continued to be strong, up 26% to 50,438 units in the first half of 2013 despite signs of weakening demand in some of the Group’s major export markets in Eastern Europe.
Overall, the Group sold a total of 263,544 units of vehicles in the first six months of 2013, up 19% from the same period in the previous year, achieving 47% of the Group’s full year sales volume target of 560,000 units.