Czech Republic car maker Skoda, controlled by Volkswagen, said on Monday its first-half net profit dropped 33.3% to 0.977 billion koruna CZK1.464 billion a year earlier, Dow Jones reported.
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The company reportedly attributed the profit decline to stagnating sales in Western Europe due to the continuing economic slowdown.
Dow Jones said Skoda Auto’s sales declined 1.2% to CZK76.082 billion from January to the end of June, from CZK77.037 billion in the same period of 2002.
The company sold 226,300 units in the first half, down 0.9% from 228,400 a year earlier, Dow Jones said, adding that market share in Western Europe was 1.6%, unchanged from a year earlier.
Western Europe, led by Germany, continues to account for slightly over half of Skoda Auto’s total sales, Dow Jones said.
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