UPDATE 1-Czech VW unit posts 61 pct rise in 9-month profit

30.10.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

(Adds unit sales, quote from statement, group profit)

PRAGUE, Oct 30 (Reuters) - Skoda Auto, a fully-owned unit of German automaker Volkswagen <VOWG.DE>, posted a 60.6 percent year-on-year surge in nine-month net profit to 8.35 billion crowns ($374.4 million) on Monday.

The biggest Czech company in terms of sales said that total revenues rose 7.1 percent to 150.1 billion crowns in January to September, thanks to rising sales of all of the firm's models, including the new compact Roomster.

Operating profit jumped 46.2 percent to 10.87 billion crowns. Skoda's car deliveries rose 11.1 percent to 410,700.

"Simultaneously with efforts aimed at increasing revenues, the company also improved its results by cutting the costs of materials through a number of process optimisation programmes," Skoda said in a statement.

Volkswagen, the world's fourth-largest carmaker, posted forecast-beating growth in underlying third-quarter profit on Friday, thanks to a strong performance at its VW brand after it slashed jobs and costs. ((Reporting by Marek Petrus; Editing by Sue Thomas/Rory Channing; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) ($1=22.30 Czech Crown)

Keywords: AUTOS CZECH SKODA

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