Daimler back in black in first quarter

27th April 2010, Comments 0 comments

German auto giant Daimler said Tuesday it had returned to profit in the first quarter, forecasting operating profits of more than four billion euros (5.3 billion dollars) for 2010 as a whole.

Net profit was 612 million euros, up from a loss of 1.3 billion euros in the year-earlier period, while operating income improved to a profit of 1.2 billion euros from a loss of 1.4 billion euros.

"This very good result for the first quarter shows that we did our homework in the crisis and are now firmly on track for success once again," chief executive Dieter Zetsche said in a statement.

Daimler, best known for Mercedes cars, forecast operating profit of more than four billion euros in 2010, up from a loss of 1.5 billion euros in 2009, thanks to a market revival, an improving economy and successful products.

© 2010 AFP

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