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

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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.

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

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