FRANKFURT (Dow Jones)-German holding company Porsche Automobil
Holding SE (PAH3.XE) said Tuesday profit increased considerably in
the first six months of 2012, primarily due to the profit from
investments accounted for at equity.
MAIN FACTS:
-In the first six months of fiscal 2012, Porsche reported an
after-tax profit of 1.15 billion euros ($1.41 billion), up from
EUR149 million in the same period a year earlier.
-Porsche SE expects a high single-digit billion-euro profit for
the year 2012, primarily due to a positive one-time effect of EUR6
billion to EUR7 billion, resulting from the creation of the
integrated automotive group with Volkswagen AG (VOW.XE).
-Profit mainly due to investments accounted for at equity
totalled EUR2.60 billion from the deal with Volkswagen AG (VOW.XE)
at the end of the period.
-Porsche and Volkswagen are planning to implement their shared
goal of creating an integrated automotive group as of Aug 1, 2012,
a deal agreed to earlier this month.
Write to Frankfurt bureau at djnews.frankfurt@dowjones.com
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