Sales push up Volvo prof­its

The Star Early Edition - - INTERNATIONAL -

SWEDISH truck-maker Volvo says sec­ond-quar­ter prof­its surged more than three­fold amid solid sales. Net profit jumped to 6 bil­lion kro­nor (R9.3bn) in the pe­riod, from 1.9bn kro­nor a year ear­lier. Last year’s profit had been dented by a 2.3bn-kro­nor pay­ment to the EU re­lated to a com­pe­ti­tion in­ves­ti­ga­tion. How­ever, sales dur­ing the quar­ter grew 12 per­cent to 88.4bn kro­nor. Chief ex­ec­u­tive Martin Lund­st­edt said yes­ter­day that all busi­ness ar­eas had im­proved their oper­at­ing in­come. – AP

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