Weichai Power--Weichai Power's net profit surges 101.54% in Jan-Sep

Oct. 28, 2010 (China Knowledge) - Weichai Power Co Ltd<000338><2338>, one of China's largest manufacturers of diesel engines, announced yesterday that its net profit surged 101.54% year on year to RMB 4.8 billion in the first nine months of this year, sources reported.

In a statement filed with the Shenzhen Stock Exchange, the company said that operating revenue was RMB 46.92 billion, 84.45% more than in the same period of last year, and that basic earnings per share jumped 101.4% to RMB 5.76.

In the third quarter, Weichi Power realized RMB 13.69 billion in operating revenue, up 42.05% year on year, and net profit rose 35.02% from a year earlier to RMB 1.57 billion. Basic earnings per share climbed 32.25% to RMB 1.88, said the statement.

The company expected that it will realize net profit between RMB 5.96 billion and RMB 6.99 billion for the whole year of 2010 and that basic earnings per share will surge between 75% and 105% year on year to RMB 7.16 to RMB 8.38, helped by a robust growth in sales revenue amid the strong market demand.

Source: China Knowledge