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MAN's 2006 Net Profit Nearly Doubles

AP
Tuesday, 6 Feb 2007 | 3:16 AM ET

Truckmaker MAN, which withdrew its hostile takeover offer for rival Scania, said Tuesday its annual profit nearly doubled in 2006.

The Munich-based company earned 925 million euros ($1195.56 million) in 2006 compared with 472 million euros a year earlier, beating the $916 million (708.7 million euros) analysts polled by Dow Jones News had predicted.

Sales rose 15% to $13 billion (10.06 billion euros) last year, better than the $1.09 billion (840 million euros) analysts had predicted.

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