02/23/2018

Volkswagen (VOWG_p.DE) said full-year profit nearly doubled last year, helped by record sales of luxury Audi and Porsche models and cost cuts at its VW mass-market brand.

Group operating profit after special items jumped to 13.8 billion euros from 7.1 billion a year ago, VW said on Friday, below the bottom-end forecast of 13.9 billion in a Reuters poll.

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The German group also said it expects a return on sales for 2018 of between 6.5 and 7.5 percent, after reaching 7.4 percent last year, and revenue to exceed 2017 levels by up to 5 percent.VOWG_p.DE


The German group also said it expects a return on sales for 2018 of between 6.5 and 7.5 percent, after reaching 7.4 percent last year, and revenue to exceed 2017 levels by up to 5 percent.

Reuters (Reporting by Andreas Cremer; Editing by Maria Sheahan)