CORRECTED - Volvo Q1 beats expectations, sees key mkts down


In Stockholm story "Volvo Q1 beats expectations, sees key mkts down" please read in dateline STOCKHOLM, April 28 ... not STOCKHOLM, April 25 (corrects date).

A corrected repetition follows.

STOCKHOLM, April 28 (Reuters) - The global number two truck maker, Sweden's AB Volvo , reported a swing to a higher than expected profit in the first quarter on Monday but said demand for heavy trucks in two key markets would fall this year.

Volvo reported a pre-tax profit of 757 million crowns ($91.45 million) against expectations of 550 million and a 618 million loss the year before.

Sales were 40.9 billion crowns against expectations of 39.6 billion and 40.4 billion in the first quarter of 2002.

Volvo said the market for heavy trucks in Western Europe, its biggest market, would fall between five and 10 percent this year to around 200,000 trucks, while in North America, its second biggest market, demand would ease to 172,000 trucks.

"Our readiness to adapt to changes in demand remains high," Volvo Chief Executive Leif Johansson said in a statement.



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