Volvo Cars, majority-owned by China’s Geely Holding, posted an operating profit of 800 million Swedish crowns ($82.76 million) for the April to June period, lagging the 1.6 billion reported in the first quarter this year.
The company still expects its earnings margins to receive a boost in the second half of this year as the output of the new flagship EX60 SUV fully ramps up.
Volvo Cars said it had delivered 5 billion of indirect savings six months ahead of schedule as part of its 18 billion-crown cost-cutting plan.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
