Great Wall Motor Co, China's largest maker of sport-utility vehicles and pick-up trucks, said 2007 profit rose 33 percent after it sold more Hover SUVs in China, Europe and Africa.
Net income rose to 937 million yuan (US$132 million), or 0.91 yuan a share, from 702.8 million yuan, or 0.74 yuan, a year earlier, the company told the Hong Kong stock exchange yesterday.
Sales rose 54 percent to 7.58 billion yuan from 4.92 billion yuan. The SUV sector is the fastest growing in China. Great Wall is also introducing sedans and plans to add production capacity in a bid to more than double annual sales to 500,000 vehicles by 2010.
(Shanghai Daily March 12, 2008)
