FRANKFURT: Daimler, maker of Mercedes-Benz and Smart cars, reported a sharp rise in second-quarter underlying profit driven by record sales in its luxury car division.
Daimler’s earnings before interest and taxes, or Ebit, from ongoing business rose 12 percent from a year earlier to €2.46bn ($3.3bn). This was above analysts’ expectations of a 9-percent rise.
Group revenue rose six percent to €31.5bn, while sales rose four percent to a new record of almost 628,900 vehicles. “We are growing profitably, our strategy is bearing fruit. We are steadily continuing along our path,” said chief executive and chairman Dieter Zetsche in a statement. The group confirmed its growth forecast for the full year 2014, with a rise in unit sales, revenues and earnings before interest and taxes from ongoing business. AFP
