Porsche: upbeat after FY results

(CercleFinance.com) - The Porsche share is up 3.
6% in Frankfurt today, after the group announced a 6% increase in its net income to 3.5 billion euros, which is significantly influenced by the result from the investment recorded for the stake in Volkswagen.

It has also increased this stake over the year, hence increasing its percentage of voting rights from 52.2% to 53.1% at present, which has resulted in the group's net cash falling to 864 million euros at end-December 2018.

Porsche plans to distribute an dividend that is up 26% at 2.21 euros per share in 2018 for holders of preference shares. For 2019, the luxury car maker expects earnings of between 3.4 billion and 4.4 billion euros.



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