Friday, August 03, 2007
BMW profits dip as new model costs bite
Pre-tax profits at the BMW Group dropped 13.6% on revenues up 11.3% in the second quarter of 2007, but the company says that despite the adverse impact of on-going currency effects and market launch and production start-up costs for new models it is on schedule to achieve its full-year profit target.
Pre-tax profit tax fell by 13.6% to £1,065 million; net profit was £753m (second quarter 2006: £787m).
Revenues for the first half year rose by 7.3% to £26,634m. Pre-tax profit amounted to £1,917m (first half-year 2006: £2,528/-24.2%).
DATED: 03.08.07
FEED: AW
Pre-tax profit tax fell by 13.6% to £1,065 million; net profit was £753m (second quarter 2006: £787m).
Revenues for the first half year rose by 7.3% to £26,634m. Pre-tax profit amounted to £1,917m (first half-year 2006: £2,528/-24.2%).
DATED: 03.08.07
FEED: AW
