Porsche booked further rises in vehicle deliveries, revenue and operating profit in the first quarter of 2018.

Deliveries rose 6% year on year to 63,500 vehicles, generating revenue up 8% to EUR5.9bn.

Operating profit rose 1% to EUR976m while operating profit margin was 16.4%.

"This successful first quarter creates a solid basis for the coming months," said finance chief Lutz Meschke, noting increased volume, better mix and positive development outside the vehicle business – such as aftersales and consulting services provided by MHP and Porsche Consulting – all helped the Q1 results.

"On the other hand, high levels of investment in the future created financial pressures, which were exacerbated by unfavourable exchange rates," Porsche said in a statement.

Chairman Oliver Blume said: "The very good result reaffirms our product strategy. The new generations of the Panamera and Cayenne have proven popular with our customers, as have our new 911 GT models."

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