SAIC profit up 1.43% in in China

SAIC profit up 1.43% in in China

China’s leading automaker SAIC Motor Co Ltd, said Wednesday its net profit increased 1.43 percent year-on-year to 5.35 billion yuan ($849 million) in the third quarter of 2012.

The net profit growth in July-September marked the slowest quarterly expansion in three and a half years, according to a statement the company filed to the Shanghai Stock Exchange.

Earnings per share stood at 0.485 yuan in the third quarter and 1.46 yuan for the first nine months of this year.SAIC’s business revenues reached 353.2 billion yuan, up 8.32 percent year-on-year.

The company sold 3.31 million vehicles in the first three quarters of this year, up 10.95 percent over the same period of last year. SAIC Motor is China’s largest auto-maker in terms of sales volume.

Via: ChinaDaily.

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