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TRUCKMAKERS NEWS * WORLDWIDE
* Sweden - Volvo profits decline in 4th quarter
Gothenburg,Sweden -Bloomberg -7 Feb 2008: -- Volvo AB reported a smaller increase in fourth-quarter profit than analysts estimated after a slump in U.S. sales offset an eastern European boom. Net income rose 9.8 percent to 4.06 billion kronor ($631 million) from 3.7 billion kronor a year earlier, missing the 4.53 billion-krona median estimate of eight analysts surveyed by Bloomberg. Revenue increased 25 percent to 84.6 billion kronor, Gothenburg, Sweden-based Volvo said. CEO Leif Johansson said North American demand remains low. The truck unit's deliveries in the region dropped 53 percent last year. Shifts in the U.S. market, where the division posted 14 percent of 2007 revenue, affect earnings at Volvo more than at European rivals MAN AG and Scania AB, which don't sell trucks in North America...
Labels: truckmakers news worldwide
posted by Unknown @ 8:43 AM
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