China’s Geely 2012 profit rises 32% as exports surge

by Agencies
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Beijing: Chinese automaker Geely said yesterday its 2012 net profit jumped 32 per cent, helped by recovering domestic sales and strong growth in exports.

The owner of Swedish nameplate Volvo, Geely said its net profit for the year ended December 31, 2012 was 2.04 billion yuan ($328 million), up from 2011's 1.54 billion yuan, in a filing to the Hong Kong stock exchange where it is listed. 

Revenue for Geely, one of China's largest private car makers, in 2012 rose 17 per cent to 24.63 billion yuan.  The group saw a 157 per cent rise in vehicle exports with 101,908 units sold abroad while the total of 483,483 vehicles sold in 2012 marked an increase of 15 per cent when compared to 2011.


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