UPDATE 1-Geely year net up but worse-than-expected

Newswire

(Adds details and analysts comment) HONG KONG, April 28 (Reuters) - Chinese car maker Geely Automobile Holdings Ltd. on Thursday posted a disappointing 47 percent rise in 2004 net profit, becoming the latest Chinese auto maker to report worse-than-expected earnings. "This will be another difficult year as raw material costs and oil prices are rising and there is continued pressure on our car prices," Geely's Executive Director Lawrence Ang told a news conference. Geely, which makes ...

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