Volvo Truck Earnings Rise 9%

Volvo AB reports its earnings before interest and taxes advanced to 3.6 billion kronor (€385 million) in April-June from 3.3 billion kronor (€357 million) in the same period last year.

Second-quarter net earnings for the truckmaker jumped 23% to 2.5 billion kronor (€267 million). Adjusted sales slipped 1% to 72.6 billion kronor (€7.9 billion).

The company's truck deliveries grew 2% to 53,200 units year-on-year, but orders for new trucks fell 6% to 53,000.

CEO Olof Persson credits results to the Volvo Truck efforts begun last year to cut purchasing and operating costs and trim 1,200 white-collar jobs. The company expects to eliminate 4,400 jobs by the end of the year.