Porsche profits soar to $2.5bn

Porsche Automobile Holding SE, Stuttgart, has recorded a pretax profit of 1.65 billion Euros ($2.5 billion) in the first six months of the current financial year 2007/08.

The prior year result on a comparable basis was 1.341 billion Euros. This includes the proportional VW result for the fourth quarter of 2006 of about 272 million Euros and it is adjusted for the one-off effect of the revaluation of VW stake that resulted in an appreciation of 521 million Euros, said an official spokesman.

Calculated on a comparable basis the group result after taxes increased from 0.897 billion Euros in the previous period to 1.295 billion Euros in the reporting period.

Operating result before taxes grew in line with the increase in the turnover and sales figures. Turnover grew by 14 per cent to 3.49 (prior year: 3.07) billion Euros and sales reached 46,736 vehicles versus 39,265 units in the comparable period for the prior year.

The expansion of the dealer network, in particular into the new markets, and also the increased attractiveness of Porsche’s product range contributed to these successes.

The new top models of the successful 911 sports car series introduced during the reporting period, the 911 Turbo Cabriolet and the 911 GT2 were received with great enthusiasm by customers.

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