Chinese Automaker Geely Says First-Half Profit Down 20%

Newswire

HONG KONG, Aug 20 (Reuters) - Geely Automobile Holdings Ltd on Wednesday posted a 20 percent fall in first half net profit, hit by slowing sales at home as local brands fall out of favour and a drop in exports to major markets in eastern Europe and the Middle East. Geely, whose parent company owns Swedish carmaker Volvo, said net profit fell to 1.11 billion yuan ($180.6 million) for the January-June period from 1.398 billion yuan the same period a year ago. The figure beat analysts' ...

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