Autos

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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