p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; min-height: 15.0px}

Geely Automobile Holdings has announced that its net profit rose 16% last year, supported by a booming Chinese market.

 

Geely Automobile said its net profit for the calendar year ended December 31 was CNY1.37bn, up from CNY1.18 billion a year earlier.

 

Revenue was up 43% to CNY20.10bn from CNY14.07bn.

 

Analysts expect profits in China to fall in 2011 as the market cools and excess capacity looms.