Sinotruk profit up 74% in 2007

Sinotruk (Hong Kong) Ltd<3808>. China's biggest heavy-truck maker, announced in its annual report that its 2007 net profit soared 74% to RMB 1.11 billion.

With headquarters and main manufacturing base located in Jinan, East China's Shandong province, the company posted operating profit of RMB 1.94 billion last year, compared with RMB 1.32 billion in 2006. Earnings per share for profit attributable to the equity holders were RMB 0.71, up 65% year on year.

The company's turnover reached RMB 21.3 billion, representing a year-on-year increase of 67%. The Hong Kong-listed company also announced a final dividend of HK$0.071 per share.

Sinotruk raised HK$9 billion in a Hong Kong IPO in November 2007.