financial results tagged posts

Amidst global recession, Ferrari posts record profits

Global economic recession? What’s that again…?!

In an environment where most carmakers are struggling to cut their losses, iconic Italian supercar manufacturer Ferrari has actually posted record profits. The company, which released its 2008 financial results recently, posted a profit of US$441 million – an increase of 27% over the year-ago period.

Sales were up 2%, with 6,587 Ferrari cars delivered to customers worldwide in 2008. The US remains Ferrari’s biggest market, though Eastern Europe is said to be catching up fast. India, for now, is nowhere in the picture.

‘The economic climate in 2009, still remains very uncertain as the crisis takes its toll across the globe and it is hard to say how the situation will develop from here,’ says Ferrari Chairman Luca di Montezemo...

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Maruti Suzuki profits down 32% in April-December 2008

Maruti Suzuki India Ltd. (MSI) has announced its financial results for the period April-December 2008, during which the company registered a total income from operations (net of excise) of Rs 144,196.2 million, a growth of 7.35% over the year-ago period. Net profit after tax stood at Rs 9,755.4 million, down 31.93% over April-December 2007.

Between October-December 2008, Maruti registered a total income from operations (net of excise) of Rs 46,258.1 million, a decline of of 2.81% compared to the year-ago period. Net profit during the quarter stood at Rs 2,135.7 million, down 54.27% October-December 2007.

The reduction in net profit was mainly due to lower volumes, a rise in material costs and adverse impact of currency changes in the fiscal...

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Porsche reports record profits, turnover and sales

Global recession? Time to buy more Porsches then!

Despite the worldwide economic recession, it seems people are buying more Porsches than ever before! Porsche Automobil Holding SE, Stuttgart, reports that the company has set new records in the business year 2007-08, with profits, turnover, sales, and production reaching new all-time highs.

The business year 2007-08 was the most successful year ever in the 60-year history of Porsche, with Group profit before taxes increasing by 46 percent to 8.569 billion Euro. This significant jump in profit was again due to special influences in connection with the holdings in Volkswagen AG, Wolfsburg, Germany.

Porsche’s operative earnings before taxes, corrected for special effects from hedging operations as well as the interest result of Pors...

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