Chery’s profit falls even as its business improves
Chery Automobile's first-half net profit fell 11.7% year-over-year to CN¥8.57bn (US$1.26bn), yet the decline obscures a core business that actually strengthened during this period: gross profit rose 25.1%, to CN¥23.04bn, and gross margins expanded 3.1pts to 16.1%. The gap can be attributed almost entirely to a 27.1% drop in other income and gains, driven mainly by lower foreign exchange gains, more so than any weakening in Chery's core operations.
Subscribe to Automotive World to continue reading
Sign up now and gain unlimited access to our news, analysis, data, and research
Subscribe
Already a member? Log in here
Login
AP by OMG
Asian-Promotions.com |
Buy More, Pay Less | Anywhere in Asia
Shop Smarter on AP Today | FREE Product Samples, Latest
Discounts, Deals, Coupon Codes & Promotions | Direct Brand Updates every
second | Every Shopper’s Dream!
Asian-Promotions.com or AP lets you buy more and pay less
anywhere in Asia. Shop Smarter on AP Today. Sign-up for FREE Product Samples,
Latest Discounts, Deals, Coupon Codes & Promotions. With Direct Brand
Updates every second, AP is Every Shopper’s Dream come true! Stretch your
dollar now with AP. Start saving today!
Originally posted on: https://www.automotiveworld.com/analysis/cherys-profit-falls-even-as-its-business-improves/