| 01-04-2008
Dongfeng Automobile Co Ltd booked a net profit of 489.33 mln yuan in 2007, up 0.62 pct.
The company did not give an explanation for low profit growth levels. However, according to its earnings report filed with the Shanghai Stock Exchange, growth in operating costs just about matched revenue growth, with operating margins very thin.
In 2007, the automaker earned operating revenue of 13.39 bln yuan, up 26.56 pct. Operating costs stood at 11.22 bln yuan, up 26.21 pct. Operating profit rose just 8.56 pct to 673.71 mln yuan.
Sales and management costs amounted to 795.11 mln yuan and 565.78 mln respectively, up about 40 pct and 32 pct respectively.
At the end of 2007, the company had assets of 12.11 bln yuan, compared with 11.16 bln a year earlier.
Editor: Ida Zhang from Chinabuses.co
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