By Joanne Chiu
Hong Kong-listed car maker Brilliance China Automotive Holdings
Ltd.'s (1114.HK) 2014 net profit rose by 60% from a year earlier,
on the back of strong BMW car sales.
Brilliance, which has a car-making venture with Germany's BMW AG
(BMW.XE), said in a statement Thursday that its 2014 net profit
rose to 5.50 billion yuan ($869 million) from CNY3.37 billion the
previous year.
BMW Brilliance Automotive, the 50:50 joint venture between the
two firms, sold 278,529 BMW sedans in the period, up nearly 35%
from 206,729 a year earlier.
The company's revenue fell 9.6% to CNY5.51 billion from CNY6.10
billion, partly as it sold fewer minibuses. The car maker produces
minibuses under the JinBei and Granse brands in China.
Like the previous year, the company omitted a final
dividend.
Write to Joanne Chiu at joanne.chiu@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires