Cost of goods sold increased by 45.3% to RMB3.0 billion ($453.9 million) in the full year of 2010 from RMB2.1 billion in 2009, primarily as a result of increased sales of new vehicles, as well as automobile repair and maintenance services. As a percentage of revenues, cost of goods sold increased to 89.1% in the full year of 2010 from 88.1% in 2009.Gross profit in all of 2010 increased by 31.8% to RMB368.1 million ($55.8 million) from RMB279.3 million in 2009. The increase in gross profit was primarily due to the increase in revenues both from new vehicles sales and automobile repair and maintenance services.
Lentuo International Inc. Announces Fourth Quarter And Fiscal Year 2010 Financial Results
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