TC

01/09/2014 11:35

Dongfeng Motor (00489) 1H net up 54% to Rmb8.51bn; no div

    Dongfeng Motor (00489) said its profit attributable to owners for the six months ended 30 June 2014 rose 53.6% year-on-year to Rmb8,506 million.
  Its basic and diluted earnings per share were Rmb98.72 cents.
  The revenue was Rmb30,949 million, an increase of 217.4% from a year earlier. Except the changes in basis of consolidation due to the acquisition of commercial vehicle business in 2013, the increase in revenue was mainly attributable to the increase in the sales of passenger vehicles and the contribution of new products. 
  The comprehensive gross margin increased 2.1 percentage points to about 21.3% for the period from about 19.2% of the corresponding period last year, which was mainly attributable to the launch of new models of passenger vehicle of New Teana, X-Trail and 2008 and high value-added new commercial vehicles of State IV Emission Standards; the increase in sales and improvement in sales structure as compared with last year; the effective cost control measures for the whole value chain; the appreciation of RMB against US$ and depreciation of Yen against US$. 
  No interim dividend will be distributed. 

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