Porsche profits race ahead

23rd September 2004, Comments 0 comments

24 September 2004, STUTTGART - German luxury sports car maker Porsche made pre-tax profits of more than EUR one billion in the business year ending 31 July, the company said. It follows pre-tax profits in the 2002/2003 business year of EUR 933 million. Chief executive Wendelin Wiedeking said the company was forecasting increased earnings in the current year thanks to demand for the new 911 model and Boxster sports cars. This year's results were helped by the first full year of sales of the successful Cayen

24 September 2004

STUTTGART - German luxury sports car maker Porsche made pre-tax profits of more than EUR one billion in the business year ending 31 July, the company said.

It follows pre-tax profits in the 2002/2003 business year of EUR 933 million.

Chief executive Wendelin Wiedeking said the company was forecasting increased earnings in the current year thanks to demand for the new 911 model and Boxster sports cars.

This year's results were helped by the first full year of sales of the successful Cayenne sport-utility vehicle which sold 39,913 units, almost double that of the previous year.

Revenue in the 12 months to 31 July rose 14 percent to EUR 6.35 billion, turnover was up 13.9 percent to EUR 6.35 billion and vehicle sales rose 15 percent to 76,827 units.

DPA

Subject: German news
 

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