BMW races ahead to new quarterly records

Tuesday, 10 May 2016 00:02 - - {{hitsCtrl.values.hits}}

AFP: German automaker BMW has reaffirmed its targets for the full year after clocking up record sales volumes and earnings in the first three months.

“The BMW group remains confident in achieving its forecast targets for the current financial year,” said Chief Executive Harald Krueger.

“We reaffirm our targets for the full year. We forecast slight increases, and thus new record figures for sales volume and group profit before tax in 2016,” Krueger said.

In the period from January to March, BMW sold a total 557,605 vehicles worldwide, a record for the first quarter, it said.

That translated into revenues of 20.85 billion euros ($24 billion), or a drop of 0.3% from the year-earlier figure, largely due to “unfavourable currency factors, such as the value of the British pound and the Chinese renminbi against the euro,” the carmaker said.

Underlying, or operating, profit fell by 2.5% to 2.46 billion euros, but bottom-line net profit rose by 8.2% to 1.64 billion euros, “also marking a new first-quarter record,” BMW said.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.