VW profit jumps as core brand pushes cost cuts, models

by Dramelin 2:00 AM 0 comments

Volkswagen said group operating profit more than doubled in the second quarter, helped by cost cuts and higher-margin new models at its core namesake brand.
Earnings before interest and tax jumped to 4.
90 billion a year earlier, VW said on Thursday, beating a 4.
49-billion-euro consensus forecast in a Reuters poll of analysts.
First-half earnings at the core namesake brand doubled to 1.
8 billion euros, VW said, citing cost cuts and higher volume sales.
The group stuck to its guidance for 2017, which sees the return on sales coming to between 6 and 7 percent, after reaching 6.
7 percent in 2016, and group revenue exceeding last year`s record 217 billion euros by as much as 4 percent.
It also affirmed an aim for a moderate rise in full-year deliveries.