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Industry: Email Alert RSS FeedGerman luxury pays off; Porsche, BMW make gains for shareholders.(News)(Brief Article)
Automotive News Europe, May, 2005 by Saint-Seine, Sylviane de
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Byline: Sylviane de Saint-Seine
Porsche gave shareholders a 10.2 percent return for the first quarter as brisk demand for its sporty cars buoyed sales and profits.
In the first half of its fiscal year, which ends July 31, sales rose 3.4 percent to [euro]2.95 billion and pre-tax profit increased 6.5 percent to [euro]25 million.
Chief Financial Officer Holger Harter told analysts February 10 he expects "a significant increase in sales in the near future," for the brand. Orders for the new 911 are strong, pushing waiting times for the car to six months.
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