China's third-biggest vehicle maker, Dongfeng Motor Group Co. Ltd. , posted a 69 percent rise in first-half earnings on higher sales and a turnaround at its joint venture with France's PSA Peugeot Citroen .

Dongfeng said on Aug 28 that it earned 1.11 billion yuan ($139.3 million) in the first half against 660 million the previous year, slightly above a consensus forecast of 1.07 billion yuan.

Earnings were boosted by a 33 percent rise in sales volume and a reversal of losses at the Peugeot joint venture, which made hefty provisions the same period last year before the company's initial public offering.

Dongfeng makes vehicles under joint ventures with three global brands -- Japan's Nissan Motor Co. Ltd. , Honda Motor Co. Ltd. and PSA Peugeot Citroen.

Shares in Dongfeng jumped 86 percent in the first half, outpacing a 27 percent rise in the index of Chinese companies listed in Hong Kong.

Source:佚名