Dongfeng Motor's Net Declines 10% in H1
Source: Bloomberg News |
August 31, 2011, Wednesday
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Print Edition
Print Edition
DONGFENG Motor Group Co, the Chinese partner of Nissan Motor Co and Honda Motor Co, posted a 10 percent drop in first-half profit as slowing demand and production disruptions after Japan's earthquake hurt sales.
Net income in the first six months fell to 5.9 billion yuan (US$925 million), or 0.68 yuan per share, from 6.53 billion yuan, or 0.76 yuan, a year earlier, the company said in a filing to the Hong Kong stock exchange yesterday. That beats the 5.5 billion yuan average of four analysts' estimates compiled by Bloomberg News.
The automaker faced output disruptions after Japan's March 11 earthquake and tsunami caused shortages of electricity and parts at Nissan and Honda.
Net income in the first six months fell to 5.9 billion yuan (US$925 million), or 0.68 yuan per share, from 6.53 billion yuan, or 0.76 yuan, a year earlier, the company said in a filing to the Hong Kong stock exchange yesterday. That beats the 5.5 billion yuan average of four analysts' estimates compiled by Bloomberg News.
The automaker faced output disruptions after Japan's March 11 earthquake and tsunami caused shortages of electricity and parts at Nissan and Honda.
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