Truck and bus maker AB Volvo on Monday said that second-quarter profits rose 40%, boosted by strong sales across most of its business areas.
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The Associated Press said Volvo, which sold its car division to Ford in 1999, posted a net profit of 3.93 billion kronor ($US502 million), or 9.67 kronor ($1.24) a share, up from 2.81 billion kronor, or 6.65 kronor a share, a year earlier.
Sales for the three months ending June 30 reportedly rose 15% to 61.12 billion kronor ($7.8 billion), an increase from 53.32 billion kronor in the year-ago period.
AP said truck sales rose sharply in all markets except Europe. In North America, sales were up 35%, prompting the company to raise its market growth prediction there to 20%, from its earlier estimate of 15-20%. But Volvo disappointed investors by maintaining its growth forecast for Europe at flat to 5%.
For the first six months of the year, Volvo reportedly said its net income was 7.18 billion kronor ($918 million), compared with 5.2 billion kronor in the first half of 2004. Sales grew to 113 billion kronor ($14.4 billion), from 99 billion kronor last year.
