FRANKFURT, - Volkswagen (VOWG.DE: Quote, Profile, Research), the fourth-biggest carmaker in the world that is soon to be a unit of Porsche (PSHG_p.DE: Quote, Profile, Research), posted preliminary first-quarter results in line with expectations and reaffirmed its full-year targets.
VW said on Wednesday operating profit rose 21 percent to 1.31 billion euros ($2.09 billion), a tick better than an average forecast of 1.30 billion euros from a Reuters poll of 18 analysts.
It reiterated its forecast for higher vehicle sales, revenue and operating profit in 2008 as it rolls out new models like the four-door coupe Passat CC and the revival of the sporty Scirocco.
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