BMW second quarter earnings rise by 27 per cent

Thursday, August 07, 2014

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BERLIN (AP) — Luxury car maker BMW says its net earnings jumped 27.2 per cent in the second quarter as an improved model mix boosted the company's profitability and sales grew worldwide.

BMW AG said yesterday that it earned 1.77 billion euros (US$2.38 billion) in the April-June period, up from 1.39 billion euros a year earlier.

Revenue rose 1.8 per cent to 19.9 billion euros, a figure dampened by currency effects. The company sold 5.3 per cent more cars, delivering 533,187 vehicles.

The company confirmed its forecast that fullyear deliveries to customers and pre-tax profit will both rise significantly.

However, it said the pace at which earnings increase in the second half will be influenced by high spending on new technology to reduce carbon dioxide emissions and cautioned that "the global economy also faces risks."




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