Porsche expects to increase profit this year as record vehicle sales help offset high costs for model launches and factory extensions.

In the first half of 2012, operating profit rose by about a fifth to EUR1.26bn (US$1.55bn) as sales grew 22.5% to 68,940 vehicles, Reuters reported.

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Porsche posted a 29.3% gain in first-half revenue to EUR6.76bn on surging deliveries in the United States and China, its two biggest markets. Chinese sales jumped 38% to 15,638 vehicles between January and June.

Its first-half return on sales eased to 18.7% from 20.0% a year ago, though should stay above a target of 15%, finance chief Lutz Meschke told the news agency.

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