FRANKFURT (Thomson Financial) - Porsche AG achieved full year net of more than 4 bln eur and sales of 7.4 bln, Frankfurt Allgemeine Sonntagszeitung reported, citing financial sources.
Full year net increased to a record high mainly due to Porsche's investment in Volkswagen AG, which led to several hundred million euro of hedging income.
Last year, Porsche's net reached 1.39 bln eur, while sales came to 7.27 bln.
Porsche owns a stake of about 30 pct in Volkswagen, but its chief executive Wendelin Wiedeking said in September that his company has sufficient options for shares in VW to raise its holding to 50 pct. judith.csaba@thomson.com jcs/jag COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Full year net increased to a record high mainly due to Porsche's investment in Volkswagen AG, which led to several hundred million euro of hedging income.
Last year, Porsche's net reached 1.39 bln eur, while sales came to 7.27 bln.
Porsche owns a stake of about 30 pct in Volkswagen, but its chief executive Wendelin Wiedeking said in September that his company has sufficient options for shares in VW to raise its holding to 50 pct. judith.csaba@thomson.com jcs/jag COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News
