BMW profits driven by demand 11283 12206 PakRealEstateTimes.Com

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BMW profits driven by demand

08-04-2010, 01:38 PM

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BMW profits driven by demand

BERLIN (Agencies): German carmaker BMW has reported a surge in profits, thanks to a recovery in global markets, demand from China and strong sales of new models. The firm made 834m euros (£692.8m; $1.1bn) between April and June, up from 121m euros a year earlier. Sales climbed by 18.3% to 15.35bn euros. The results impressed investors, pushing the firm's share price up by 3.4% in morning trading. BMW had already raised its 2010 sales and earnings forecasts last month. Chief executive Norbert Reithofer confirmed the company aimed to boost full-year sales by about 10% to more than 1.4 million vehicles. "We are aiming to achieve significantly higher group earnings in 2010 than in 2009," he said.

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