 Porsche's cars continue to be in high demand |
German luxury carmaker Porsche has seen its annual profits jump 8.9% boosted by ongoing strong sales across its range. Reporting its initial results for the fiscal year to 31 July, 2005, its pre-tax profit increased to 1.24bn euros ($1.44bn; �844m).
Revenues rose by 6.8% to 6.56bn euros. Analysts said the results were strong, but somewhat clouded by a change in accountancy rules since last year.
The carmaker is due to release more detailed figures on 7 December.
New cars
Automotive analyst Georg Stuerzer, said the profit figure was "certainly outstanding".
He added that Porsche appeared confident about the current year and the launch of its new Cayman S model and new editions of its classic 911.
Porsche announced back in September that it is to buy a 20% stake in Volkswagen to prevent any hostile takeovers that could threaten their business links.
Porsche owns about 5% of Europe's biggest carmaker already, and boosting its stake is set to cost more than $3bn.
Porsche developed its 4X4 Cayenne vehicle with VW, and the firms are working together on a hybrid motor.
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