BYD Posts Rise In H1 Profit

China's BYD Co

reported an increase in its first-half net profit. BYD's net profit for the six months surged to 427 million yuan ($69.8 million), from CNY16.27 million, in the year-ago period. The company had earlier expected a net profit of CNY400 million to CNY500 million. Its revenue climbed 13% to CNY24.24 billion. BYD shares closed at $8.24 on Friday.