Business News
Porsche posts 25 per cent rise in profit after surge in Asian sales
Oct 28, 2011, 11:42 GMT
Stuttgart, Germany - Luxury German sports carmaker Porsche said Friday its profits jumped 25 per cent during the first nine months of the year, following a surge in sales to Asia.
The group said operating profit between January and September rose to 1.51 billion euros (2.14 billion dollars) from 1.21 billion euros in the same period in 2010. Porsche predicts that earnings and sales in the full year 2011 will surpass last year.
Porsche's 'course is set fair for growth' said the carmaker's chairman, Matthias Mueller.
Total sales increased by 26 per cent to 85,872 vehicles moved in the first nine months. Porsche expects full-year sales to top 100,000 in 2011.
The carmaker's earnings followed a 54-per-cent jump in nine-month sales in Asia. Sales in China the world's biggest auto market - surged by 82 per cent.
US sales gained 17 per cent and by 11 per cent in Europe, Porsche said.
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