Denway 2003 profit jumps amid booming China demand

Newswire

(Adds details, background) HONG KONG, March 29 (Reuters) - Denway Motors Ltd , the Chinese joint venture partner of Japan's number-two car maker Honda Motor Co , said on Monday its 2003 net profit rose 54.5 percent as a doubling of unit sales countered price cuts. With a waiting list of buyers for its Honda cars that stretches into the latter part of 2004, Denway is seen as less exposed to downward pricing pressure than many of its rivals in the fast-growing but fiercely competitive ...

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