Chinese sports utility vehicle maker Great Wall Motor has beaten estimates with an 81% rise in first-half net profit.
The company posted 367.45m yuan ($46.12m), up from 202.92m yuan, or 37% above market consensus, due to higher than expected sales volume and margins, JP Morgan said, according to Reuters.
“We raise our earnings forecasts for 2006, 2007 and 2008 by 21%, 10% and 12%, respectively,” it reportedly said in a research report on Wednesday.
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