[ad_1]
Porsche SE has announced a sharp rise in profits in the first half of the year, despite the payment of a new fine following the scandal of diesel vehicles.
The company said its after-tax operating profit was 2.38 billion euros ($ 2.66 billion) in the first half of 2019, compared with 1.9 billion euros in the same period last year.
This rise is mainly due to the valuation of its shares in Volkswagen after its participation in the Volkswagen brand has increased to 53%.
Volkswagen net profit in the first half of the year reached 7.2 billion euros, up 8.4% over the same period last year.
The sports car manufacturer Volkswagen Porsche AG was forced to pay a fine of 500 million euros in the second quarter of 2019 in connection with the scandal of diesel vehicles.
Overall, Porsche SE is still expecting pre-tax profit of between € 3.4 billion and € 4.4 billion in 2019, compared to € 3.5 billion in 2018.
Source link
