China's SAIC Motor forecast 40 pct rise in 2011 profit


SHANGHAI, Jan 31 (Reuters) - Top Chinese automaker SAIC Motor Corp has forecast that 2011 net profit will rise 40 percent thanks to strong vehicle sales. Sales rose 12 percent to more than 4 million units, while the acquisition of some assets from its parent Shanghai Automotive Industry also helped boost earnings, SAIC said in a statement. SAIC is expected to announce full-year earnings on April 5. Its shares were up 0.1 percent on Tuesday as the broader index gained 0.2 percent. (Reporting ...

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