Company Of The Day: Volkswagen
German auto giant Volkswagen (OTCMKTS:VWAGY) indicated that it expects that its H1 operating profit to total about Euro 11 billion ($13 billion), effectively surpassing pre-pandemic levels.
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The growth is driven by its premium brands such as Porsche and Audi which have higher margins, and also by the group’s financial services business.
VW stock rallied by almost 6% on Friday’s trading following the news. The company is scheduled to publish Q2 results on July 29.
See Our Complete Analysis For Volkswagen
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