China Dongfeng Auto net flat in the year 2007
Year ended Dec. 31, 2007. (in millions of Yuan unless stated, against 2006 figures):
|
|
2007 |
2006 |
|
turnover |
12,791.74 |
10,071.25 |
|
Net profit |
489.33 |
486.31 |
|
Earnings per share |
0.2447 |
0.2432 |
|
Assets per share |
2.79 |
2.61 |
Company: Dongfeng Automobile Co is a listed unit of one of China's top three vehicle makers. It has a joint venture with U.S.-based Cummins Inc to make diesel engines.
It sold 150,038 vehicles in 2007, up 19 percent, slightly underperforming 22 percent growth in China’s overall vehicle market to 8.79 million vehicles. Dongfeng's sales of diesel engines jumped 42 percent to 136,973 engines.
In 2008, China's vehicle sales growth is expected to slow to 13 percent. Dongfeng Motor is aiming for sales of 174,700 vehicles and 136,200 engines in 2008, and to make 530 million Yuan of profit before tax and interest expenses on 16.2 billion yuan of turnover. Dongfeng said it planned to pay a total cash dividend of 0.24 yuan per share, including 0.12 yuan carried over from 2006.
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