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Volvo Truck Profit Doubles in Second Quarter
Cost-cutting efforts helped push net profits at AB Volvo to 5.2 billion kronor (€546 million) in April-June from 2.5 billion kronor in the same period last year.
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Cost-cutting efforts helped push net profits at AB Volvo to 5.2 billion kronor (€546 million) in April-June from 2.5 billion kronor in the same period last year.
The commercial truckmaker's revenue in the second quarter rose 17% to 84.8 billion kronor, buoyed by favorable currency exchange. Adjusted sales increased 4%.
Quarterly operating income climbed to 6 billion kronor (€634 million) from 3.3 billion kronor in the same period in 2014. New orders for the company's Eicher, Mack, Renault, UD and Volvo brand trucks declined 6% to 49,600 units, as shrinkage in most markets offset growth in Europe. Orders for Volvo Truck's construction equipment plunged 27%.
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