Audi: First half net profit up 67 percent

Audi said that its net profit for the first half of 2007 rose 67 percent to 679 million euros ($926.9 million). Audi said the boost in profit was caused by interest income from the investment of rising net liquidity, coupled with higher income from the valuation of commodity futures.

Audi, who has never enjoyed popularity in many luxury car markets due to its rivals BMW and Mercedes-Benz, has been working hard on expanding its product portfolio. CEO, Rupert Stadler, believes Audi has established a sound base for strong results in the second half leading the company to mark its 12th consecutive year of record deliveries.

“The sharp rise in (unit) sales figures will also be reflected in the revenue and earnings figures,” Stadler said.

With the Audi R8, Audi A5, S5 and the upcoming Audi Q5, Audi seems to have built a strong foundation for growth in a competitive market. Audi sold over 905,188 units last year.

Source: Reuters

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