Geely profits soar

Geely Automobile Holdings Ltd, the publicly traded unit of China's biggest private automaker, has reported a strong sales performance for 2012, thanks to a doubling in exports.

The company's net profits climbed 32 percent to 2.04 billion yuan ($328 million), compared to 1.54 billion yuan in 2011. Total revenue rose 17 percent to 24.6 billion yuan.

It more than doubled its exports during the year, compared with a decline in local sales.