China's FAW Car Q3 Net Profit 358.29 Mln Yuan

China's FAW Car Co Ltd, a subsidiary of the country's largest automaker First Automotive Works (FAW) Group Corp, said net profit surged to 358.29 mln yuan in the third quarter, up 56.7 pct year-on-year, mainly due to lower costs.



Operating costs in the third quarter totaled 2.74 bln yuan, down 30.4 pct year-on-year, while operating revenue rose 44.2 pct year-on-year to 3.75 bln yuan.



Earnings per share in the quarter stood at 0.22 yuan, up from 0.14 a year earlier.



In the first nine months, the company reported net profit of 523.57 mln yuan, up 20.7 year-on-year.



Operating revenue was 9.67 bln yuan, from 8.31 bln a year earlier.



Earnings per share rose 18.5 pct to 0.32 yuan.



The company did not provide an earnings forecast for the rest of the year.