BMW shares fall in spite of massive profit

first_img BMW shares fall in spite of massive profit whatsapp Tags: NULL Show Comments ▼ Wednesday 3 November 2010 9:03 pm Share CARMAKER BMW reported an enormous rise in profit yesterday, due to to rocketing sales in emerging markets, though investors were disappointed with the group’s outlook for the rest of the year. The German company reported third-quarter pre-tax profit of €871m (£760.6m), up from €76m a year ago. This represents an 11-fold increase. Sales in China have almost doubled since last year, far outstripping a 1.8 per cent rise in Western Europe. UK sales of the group’s BMW, Rolls-Royce and Mini models grew 13 per cent. Overall revenue rose 36 per cent on last year to €15.9bn, and the group raised its target for auto earnings before interest and tax equivalent to more than seven per cent of revenue this year from the five per cent-plus aimed for in August.However, shares fell 1.4 per cent to €51.64 as investors had hoped for a more upbeat outlook for next year. “BMW’s Q3 numbers confirm our view that the luxury auto segment has entered a new phase of profitability and that near double-digit margins were not just a peak in Q2 but a sign of a change in underlying profitability,” Barclays Capital analyst Kristina Church wrote. center_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBD whatsapp KCS-content last_img

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