Dongfeng profits top expectations
China’s Dongfeng Motor Group reported a better-than-expected 16 per cent rise in 2013 profit yesterday due to a rebound in sales at its Japanese partners. The carmaker, which on Wednesday agreed to buy a stake in struggling French peer PSA Peugeot Citroen, said net profit was 10.53bn yuan (£1.02bn), according to a statement via the Hong Kong Stock Exchange.