VW profit rises 3.4% in first quarter
Company criticised in Ireland over current dealings with car owners
Operating profit climbed to €3.44 billion from €3.33 billion last year, the Wolfsburg-based manufacturer said in a statement. The result included about €300 million in positive special items, including currency-related adjustments on the provisions Volkswagen set aside to cover costs related to the diesel cheating. Profit at the namesake VW brand crumbled 86 per cent to €73 million.
The company has “achieved respectable results under difficult conditions,” chief executive Matthias Mueller said. “2016 will be a...
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