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Quarterly Profit Soars for Volvo Trucks
AB Volvo reports its second-quarter next income jumped to 5.2 billion kronor (€549 million) from 2.5 million kronor in the same period in 2014.
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AB Volvo reports its second-quarter next income jumped to 5.2 billion kronor (€549 million) from 2.5 million kronor in the same period in 2014. Sales climbed 17% to 84.8 billion kronor (€9 billion).
Favorable exchange rates and cost-cutting efforts contributed to the improvement, according to the Swedish truck maker. Operating income in April-June surged 89% to 6.4 billion kronor (€781 million).
Volvo's truck sales, which generate two-thirds of the company's income, rose 4% to 55,600 units during the second quarter. The company says its total net orders in April-June grew by 6% to 49,600 trucks, as a 13% gain in Europe offset declines of 5% in Asia, 19% in North America and 54% in South America.
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