Volvo profit limited by slow Europe sales

Swedish car and truck maker Volvo has reported weaker than expected operating profit for the last quarter of 2011 because of slow sales in Europe and China.

3rd February, 2012
Volvo profit limited by slow Europe sales
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Swedish car and truck maker Volvo has reported weaker than expected operating profit for the last quarter of 2011 because of slow sales in Europe and China.

Pre-tax profit rose 26 per cent to 6.96 billion kroner (€800 million) but this undershot average targets.

The company reported an 18 per cent rise in revenue which exceeded forecasts but cited a fall-off in truck orders of 24 per cent in Europe.

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