Porsche AG has reported a surge in net profit for the half year – on the back of rising sales – ahead of its own forecasts.
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Last month, the German sports car producer had predicted a 13% rise in net profits. But the company today reported a 14.5% increase to EUR169.8m (US$202m). Sales rose to EUR3.26bn, up 15% on the same period last year.
Sales volumes were also up, with the number of cars sold up 18% to 42,230 compared with 35,732 the year before. Porsche reaffirmed its intention to sell over 90,000 in the full financial year. It sold 88,379 cars in fiscal year 2005.
