China's Weichai Power net profit surges 76% in 2009
Weichai Power Co., Ltd., a leading Chinese diesel engine maker, Tuesday announced its net profit in 2009 had jumped 76.43 percent year on year.
The net profit hit 3.41 billion yuan (499.56 million U.S. dollars), said the annual report from the company based in Weifang, east China's Shandong Province, to the Shenzhen Stock Exchange.
Earnings per share reached 4.09 yuan, up 76.43 percent from a year earlier. Its revenue for 2009 increased 7.24 percent year on year to 35.5 billion yuan.
Weichai Power attributed its profit mainly to recovered market demand for heavy trucks, said the statement.
Shares of the company stood at 61.65 yuan per share by midday Tuesday, down 7.18 percent from the previous close.
