Volvo reports strong sales increase for Q1
By IBI Magazine
Swedish transport group Volvo which incorporates marine division Volvo Penta has released its first quarter results, reporting sales up by 26 per cent to SEK 76.7 billion for the three months ended March 31, 2008.
CEO Leif Johansson said in a statement that the underlying sales growth figure was 16 per cent, excluding the effects of currency and acquired companies.
Operating income rose 22 per cent to SEK 6,487m the group's highest to date for a single quarter while income for the period rose 12 per cent to SEK 4,215m.
The group's marine division, Volvo Penta which produces leisure marine and commercial engines reported an eight per cent increase in sales and an operating income up nine per cent.
Penta sales totalled SEK 3,165m, of which SEK 2,209m was leisure marine. Volvo reports that it continues to capture shares of the stable marine engine market in Europe and the weakening market in North America.
(25 April 2008)
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