China's BYD says profit falls 44 pct in 2011

Newswire

SHANGHAI, Feb 28 (Reuters) - Chinese car maker BYD Co Ltd said on Tuesday that its profit in 2011 fell by 44.4 percent from a year earlier to 1.4 billion yuan ($222.2 million). BYD, backed by U.S. billionaire Warren Buffett, made the announcement in a preliminary earnings statement to the Shenzhen Stock Exchange. Earnings per share fell to 0.61 yuan, from 1.11 yuan in 2010. ($1 = 6.3019 Chinese yuan) (Reporting by Jason Subler; Editing by Jacqueline Wong)

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