BMW says US tax reform to lift 2017 profit by up to 1.55bn euros

FRANKFURT: German carmaker BMW said late on Friday it expected a US tax reform to result in tax benefits lifting its 2017 net profit by between 950 million and 1.55 billion euros ($1.1-1.8 billion).

It said it would only be able to give an exact figure when it compiles its annual results.

The tax benefit will not affect its cash flow or pretax profit for 2017, it added.