China's FAW Car says 2007 earnings up 50-100 pct

Newswire

SHANGHAI, Jan 31 (Reuters) - FAW Car , a unit of China's second largest automaker, FAW Group, said on Thursday its unaudited net profit jumped 50 to 100 percent in 2007 due to robost car sales, cost cuts and changing accounting rules. Details of its 2007 earnings would be announced when the company publishes its annual report on April 23, FAW Car said in a statement published in the Securities Times. FAW Car posted a net profit of 347 million yuan ($48 million) in 2006. ($1=7.2 Yuan) ...

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