Volkswagen: first-half profit and sales on the rise.
(CercleFinance.com) - Volkswagen, Europe's largest carmaker, posted higher first-half profit and sales on Thursday and also forecasts higher full-year deliveries to customers.
Operating profit, which does not include earnings from Chinese joint ventures, surged to 8.9 billion euros, compared to 7.5 billion euros one year ago.
Group sales revenue rose by 7.3 per cent to 115.9 billion euros.
In its statement, Volkswagen said it expects that deliveries to customers will moderately exceed the prior-year volume, despite persistently challenging market conditions.
Vehicle deliveries rose 2 per cent to 2.7 million units in the first six months.
In terms of operating profit, the group anticipates an operating return on sales of between 6 and 7 per cent for the current fiscal year, compared to 7.7 per cent in the first half of the year.
Regarding a possible cartel between German carmakers on diesel technology, VW said it had "no comment to make at the present time."
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Operating profit, which does not include earnings from Chinese joint ventures, surged to 8.9 billion euros, compared to 7.5 billion euros one year ago.
Group sales revenue rose by 7.3 per cent to 115.9 billion euros.
In its statement, Volkswagen said it expects that deliveries to customers will moderately exceed the prior-year volume, despite persistently challenging market conditions.
Vehicle deliveries rose 2 per cent to 2.7 million units in the first six months.
In terms of operating profit, the group anticipates an operating return on sales of between 6 and 7 per cent for the current fiscal year, compared to 7.7 per cent in the first half of the year.
Regarding a possible cartel between German carmakers on diesel technology, VW said it had "no comment to make at the present time."
Copyright (c) 2017 CercleFinance.com. All rights reserved.