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Earnings - Germany - VW's profit triples on improved sales and cost-cutting
FRANKFURT, Germany -The Detroit News(Mich,USA)/AP, by Matt Moore -Nov 3, 2005: -- Volkswagen AG, Europe's biggest car maker, said Thursday that its third-quarter net profits tripled from last year because of increased sales and cost-cutting that has its German labor force working more hours for less pay... The Wolfsburg-based company earned 282 million euros ($338.2 million), or 71 euro cents (85 cents) a share, in the July-September period, compared with 76 million euros, or 18 euro cents a share, in the year-ago period. That was less than the 286 million euros analysts had predicted... Revenue rose 13 percent to 23.9 billion euros from 21.2 billion euros last year...
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