The Porsche group has reported the highest pre-tax profit in its corporate history during the 2004/05 fiscal year ended July 31, in spite of the costs incurred launching new sports car models.

Pre-tax profit rose 8.9% to EUR1.238bn from EUR1.137bn a year ago.

After-tax profit rose 12.9% to EUR779m, compared with EUR690m in the previous year. Profit per share rose to EUR44.68 from EUR39.63.

Pre-tax results for the Porsche AG sports car and SUV-making operation rose 3.4% to EUR872m from EUR843m  while after-tax profit was up 8.2% to EUR488m.

The Porsche board has proposed paying a dividend of EUR4.94 per share for the 2004/05 fiscal year, up from EUR3.94 Euros a year ago)

During the 2004/05 fiscal year, group turnover rose 6.9% to EUR6.57bn and sales increased 15% to 88,379 vehicles, compared to 76,827 units the previous year.

The new-generation 911 and Boxster sportscar models enjoyed unspecified growth but the Cayenne SUV remained Porsche’s best-selling model.