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.
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.