Porsche SE Nine-Month Profit Rose on Volkswagen Investment

Date : 11/12/2019 @ 9:55AM
Source : Dow Jones News
Stock : Porsche Automobile Holding Se (PC) (POAHY)
Quote : 7.405  0.015 (0.20%) @ 9:03PM

Porsche SE Nine-Month Profit Rose on Volkswagen Investment

Porsche Automobile Holding Se (PC) (USOTC:POAHY)
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By Carlo Martuscelli


Porsche Automobil Holding SE (PAH3.XE) said Tuesday that its after-tax profit rose 32% in the first nine months of the year as it benefited from its investment in Volkswagen AG (VOW.XE).

The holding company made a profit of 3.52 billion euros ($3.88 billion) compared with EUR2.67 billion the previous-year period.

Net liquidity stood at EUR566 million, down from EUR864 million due to the acquisition of Volkswagen shares.

Porsche said it continues to expect to report a full-year profit of between EUR3.4 billion-EUR4.4 billion.


Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com; @carlomartu


(END) Dow Jones Newswires

November 12, 2019 04:40 ET (09:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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