BERLIN (AP) — German automaker Volkswagen is reporting a
26.8 percent rise in net profits despite a slump in earnings for its
namesake brand.
Group net profit rose to 2.47 billion euros ($3.42
billion) during the first quarter, up from 1.95 billion euros in the
same period last year.
The biggest contribution came from its Audi
luxury division, which saw an operating profit on a level with the
previous year’s first quarter 1.3 billion euros.
This was followed by an increased operating profit of 698 million euros for its Porsche unit.
The
Volkswagen brand brought the group 440 million euros before interest
and taxes, compared with 590 million euros in the year-ago period.
Volkswagen said Tuesday its first-quarter sales revenue was up 2.7 percent at 47.8 euros billion.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
BERLIN (AP) — German automaker Volkswagen is reporting a
26.8 percent rise in net profits despite a slump in earnings for its
namesake brand.
Group net profit rose to 2.47 billion euros ($3.42
billion) during the first quarter, up from 1.95 billion euros in the
same period last year.
The biggest contribution came from its Audi
luxury division, which saw an operating profit on a level with the
previous year’s first quarter 1.3 billion euros.
This was followed by an increased operating profit of 698 million euros for its Porsche unit.
The
Volkswagen brand brought the group 440 million euros before interest
and taxes, compared with 590 million euros in the year-ago period.
Volkswagen said Tuesday its first-quarter sales revenue was up 2.7 percent at 47.8 euros billion.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.