Porsche got 500 mln eur from VW stake hedge-source

Newswire

STUTTGART, Germany, Jan 26 (Reuters) - Porsche booked around 500 million euros ($649.4 million) in pre-tax income in its fiscal first half from hedging gains on its stake in Volkswagen , a source familiar with the matter said on Friday. The company had earlier said in a statement the hedging gain contributed a sum in the triple-digit millions of euros. Porsche said its underlying profit before tax in the first half had improved even excluding the impact of its 27.4 percent VW stake.

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