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MessagePosté le: Ven 20 Juil - 07:16 (2018)    Sujet du message: Keelan Cole Jersey the weather was glo Répondre en citant

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Porsche AG, maker of the famous 911 Carerra sports car Von Miller Jersey , said that its first-half profit increased because of a revaluation and hedges on its stake in Volkswagen AG maker of world?s safest vehicles and top-of-the-line Volkswagen antenna. Stuttgart, Germany-based Porsche said in a statement on the DGAP newswire that its net income for six months until January rose to 1.05 billion euros from 169.8 million euros a year earlier. They also added that sales fell by 2.9% or 3.2 billion euros.

According to Chief Executive Officer Wendelin Wiedeking, they are expecting for a lower production costs by 2008. This will provide an operating profit of 5.1 billion euros for Volkswagen and in turn boost Porsche?s earnings from its 27.4 percent stake. Contributions from Volkswagen will offset the stagnating sales for the next two years for Porsche as it develops a four-door car and as demand for the Cayenne sport-utility vehicle falls.

``Financially, they were right with their Volkswagen investment,'' said Philippe Barrier, an analyst at Societe Generale in Paris who has a ``buy'' recommendation on Porsche. ``On a fundamental basis you can wonder about it John Elway Jersey , though for them they say it gives them a stable long-term partnership, but on a financial basis they've shown they were right.''

Shares of Porsche in Frankfurt fell by 1.8% or 18.41 euros to a three-week low of 991.50 euros. For the past twelve months Porsche?s stocks has gained 58% valuing the automaker at 14.4 billion euros compared to the 29.9 billion euros it has been able to gain from Volkswagen.

Porsche: Biggest Shareholder of Volkswagen

It was Wendelin Wiedeking, Chief Executive Officer of Porsche who bought shares in Volkswagen in September 2005 and from then on Porsche has become one of the biggest shareholder.


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