STOCKHOLM: Geely-owned carmaker Volvo Car Group said on Thursday its operating profit rose 17.5 percent last year as growth for the brand in China and Europe drove sales to a record, offsetting the impact of an eroding market share in the United States.
The Gothenburg-based company, bought by China's Zhejiang Geely Holding Group Co. from Ford Motor Co. in 2010, said full-year operating earnings rose to 2.25 billion Swedish crowns ($302.00 million) from 1.92 billion in the previous year.
Revenues at the group rose to 129.96 billion crowns from a year-ago 122.25 billion.
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