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CHINA: Jiangling posts 11% gain in net profit

By Tony Lewis | 19 July 2013

Jiangling Motors, the light truck and SUV maker in which Ford has a 30% holding, posted net profits for the first half of the year of CNY937m (US$152.6m) up 11.4% on the same period last year.

The company said better sales – up 7.4% to 110,230 vehicles in the reporting period – and more effective cost control contributed to the improved performance.

Operating revenue was CNY9.67bn, an increase of 10.8%.