Lentuo International Inc. (LAS: News ) Monday said second-quarter profit plummeted year-over-year to 11.8 million renminbi, or 0.20 renmenbi per share, from last year's 38.7 million renminbi, or 0.97 renminbi per share. The company attributed the decline to reduced margins and higher marketing expense.

Quarterly revenues also fell to 653.8 million renminbi from 731.6 million renminbi a year ago. Vehicle sales decreased 28.2 percent to 2784 vehicles.

Looking forward, the company issued its third-quarter revenues guidance, and sees revenues between 740 million renminbi and 760 million renminbi. The company also adjusted its full-year revenue forecast to a range of 3.3 billion renminbi to 3.6 billion renminbi.

Source:rttnews