Porsche said yesterday that its group pre-tax profits grew by at least 10% in the year to June 30, according to the Financial Times (FT).

The FT said that Porsche Group sales rose 10% to €4.7 billion ($US4.6 billion) in fiscal 2002 and Porsche will release profit figures in October.

Although overall sales declined 0.6% to 54,234 units, Porsche increased the ratio of its higher-margin 911 sports car at the expense of its less costly Boxster, the FT added.

The FT said that Porsche hopes to double production to 100,000 units over the next five years with the help of the Cayenne sports-utility vehicle, which it will launch at the Paris Motor Show next week.

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