TURIN (dpa-AFX) - Fiat Industrial SpA, the truck and tractor unit spun off from Italian carmaker Fiat SpA (FIATY.PK), Wednesday reported an increase in first-quarter profit, as revenues grew.
First-quarter profit increased to 207 million euros from 114 million euros last year.
Pro-forma earnings per share for the quarter was 0.149 euro compared to 0.088 euro last year.
Trading profit rose to 435 million euros from 277 million euros. Profit before taxes advanced to 340 million euros from 192 million euros last year.
Net revenues for the quarter increased 9.3 percent to 5.84 billion euros from 5.34 billion euros last year, driven by the significant growth from at agricultural and construction equipment unit.
Moving forward, the Group backed its full year 2012 guidance of trading profit of between 1.9 and 2.1 billion euros, net income of about 0.9 billion euros, and revenues of about 25 billion euros.
Copyright RTT News/dpa-AFX
© 2012 AFX News
