Porsche annual profit to surpass 3 bln eur-Spiegel

Newswire

FRANKFURT, July 28 (Reuters) - Porsche will post a record profit of more than 3 billion euros ($4.10 billion) on sales of just over 7 billion for the fiscal year 2006/07 ending on Tuesday, Der Spiegel reported on Saturday without citing sources. The German weekly magazine said two-thirds of the profit came from the rise in value of Porsche's 31 percent stake in Volkswagen as well as derivative transactions such as with warrants, with only one-third generated from the sale of sporty ...

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