Brilliance China sees first-half profit as BMW sales rise
Brilliance China Automotive Holdings said it expected to record a net profit for the first half of 2010 versus a loss for the same period a year ago, helped by strong earnings from its 50-50 joint venture BMW Brilliance Automotive Ltd.
The company said in a statement that sales of BMW sedans by BMW Brilliance rose more than 50 percent in the first half of 2010 compared with the same period in 2009. It gave no further details.
Brilliance China, the country's top minivan maker, also said discontinuation of its Zhonghua sedan business had a positive effect on earnings.
Earlier this year, Brilliance China said it expected to post a "very satisfying" profit this year on strong demand for cars produced by its joint venture BMW AG.
