Porsche revenues rise nearly 60 percent

15th March 2011, Comments 0 comments

German luxury sports car maker Porsche said Tuesday revenue rose 59 percent in the five months from August to December to a record 3.87 billion euros ($5.4 billion).

The company is making a transition from a fiscal year that runs from August 1 to July 31 to one based on the normal calendar year, as is the case with Volkswagen, ahead of a planned tie-up.

Operating profit rose to 688 million euros from 227 million in the same period on 2009.

Porsche announced last week that it made a net profit of 1.3 billion euros over the period, mostly through the 32.2 percent stake it owns in VW.

Sales in the August to December period rose by 57 percent to 40,446 vehicles.

© 2011 AFP

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