BMW says second quarter profits fell 1% to 1.75 bn euros

4th August 2015, Comments 0 comments

German automaker BMW said Tuesday its second quarter profits fell back by one percent, a figure which nevertheless was better than analysts predicted.

The Bavaria-based group saw its net profits slip to 1.75 billion euros ($1.92 billion) from April to June against 1.77 billion euros for the same period last year.

Sales of its main BMW brand cars grew by 4.9 percent on last year, while the company said it sold almost a quarter more of its Mini cars.

However, sales of its luxury Rolls-Royce cars were disappointing, falling back 7.7 percent in the second quarter.

Overall turnover grew by a fifth to 23.93 billion euros, exceeding market expectations.

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© 2015 AFP

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