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Volvo’s Sales, Profit Jump for Fourth Quarter, 2006
Volvo AB said its fourth-quarter profit jumped 24% due to an increase in sales in Eastern Europe, Bloomberg reported Friday.
Volvo, which reports its earnings in Swedish kronor, reported a profit of about $527 million or $1.31 a share, from about $426 million or $1.05 a year earlier.Full-year sales worldwide rose 7.3% to about $35.5 billion, and net income rose 25% to $2.3 billion. Volvo’s sales rose last year in Eastern Europe by about 40%, Bloomberg reported.Volvo also said it plans a 6-for-1 stock split and to raise its dividend payouts, Bloombergaid.Volvo AB is the parent company of Volvo Trucks North America and Mack Trucks.