Dongfeng Posts Drop In 2011 Net Profit

Dongfeng Motor Group DNFGY reported a 4.6% drop in its annual earnings in 2011. Dongfeng's 2011 earnings fell to 10.48 billion yuan ($1.66 billion), versus analysts' estimates of 10.95 billion yuan. Its revenue rose 7.4% y/y to 131.44 billion yuan. Car sales in China surged 5.2% in 2011. However, Dongfeng sold 2.17 million vehicles in the period, up 11.7%.