GERMANY: VW Q1 net profit down 67.8% on last year
Volkswagen has announced today that its Group net profit in Q1 2003 was 202 million euros, 67.8% down on the figure achieved in Q1 2002 (627 million euros). However, the company said that the result was as expected and said the decline was due to a number of factors including model ramp-ups and adverse exchange rate movements.
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