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China:Ford's China partner sees net profit up 45 percent in first half

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Ford's China partner sees net profit up 45 percent in first half

Reuters

SHANGHAI -- Ford Motor Co.'s Chinese partner, Changan Auto Co. Ltd., said on Thursday it was set to post a 45 percent rise in net profit for the first half of 2006 versus a year earlier.

Changan Auto, China's fourth-largest vehicle maker, posted a net profit of $37 million (294 million yuan) in the first six months of 2005.

The former military-run auto parts supplier expected profits to rise mainly due to higher sales at its joint venture with Ford, it said in a statement filed to the Shenzhen Stock Exchange.
 
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