Guangzhou Automobile's Q3 Loss Narrows Even as Revenue Falls 15%

MT Newswires Live

10/27

Guangzhou Automobile Group (HKG:2238, SHA:601238) said its third-quarter attributable loss decreased 27% year-on-year to 1.77 billion yuan, according to a Hong Kong bourse filing Friday.

Loss per share fell 31% year-on-year to 0.17 yuan. Analysts at Visible Alpha expected a loss of 0.09 yuan.

Revenue decreased 15% from the prior year to 24.11 billion yuan, figures showed. Analysts at Visible Alpha forecasted sales of 26 billion yuan.

Shares of the automobile company fell over 3% in Hong Kong in morning trade on Monday, while its Shanghai-listed shares slipped over 1%.

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