BYD: Strong Q3 – is it on the up again now?

BYD released its third-quarter results on Friday. The business figures were as expected, as the automaker only updated its third-quarter forecast in mid-October. Despite this, investors are reassured, the stock is listed on the Hong Kong stock exchange with a gain of around six percent. BYD reached 117.1 billion yuan, or about 16.2 billion euros, in the third quarter. Compared to last year, the group was able to increase sales by 116 percent. The growth of about 0 percent compared to the previous quarter was also significant. The increase in turnover was also accompanied by a significant improvement in the margin, so the profit also grew strongly. Profit was 5.7 billion yuan ($790 million), or 1.97 yuan ($0.30) per share. Compared to last year’s 1.3 billion yuan (180 million euros), this corresponds to a 350 percent increase in profit.