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VW reports H1 operating profit of 7.5 billlion euros

New cars of several brands of German carmaker Volkswagen AG are covered with protective covers before they are loaded for export on a transport ship at the harbour of the Volkswagen plant in Emden, Germany.
Christian Charisius | Reuters

Volkswagen reported on Wednesday its operating profit came to 7.5 billion euros ($8.3 billion) in the first half of 2016, beating market expectations and pushing its shares higher.

Adjusted for one-off costs of 2.2 billion euros, operating profit came to 5.3 billion euros, it said in a statement.

It said it still expected 2016 sales revenue to decline as much as 5 percent from 2015, with an operating return on sales of 5 to 6 percent.

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