UPDATE 1-BMW pretax slumps in Q1 on higher risk provisions


(adds details) FRANKFURT, April 29 (Reuters) - BMW , the world's largest premium carmaker, posted a 24.8 percent drop in first-quarter pretax profit due to a hefty increase in risk provisions, the company said on Tuesday. Earnings before tax fell to 539 million euros ($844 million), it said on Tuesday. This included a pre-announced 236 million charge on the back of falling U.S. resale prices for formerly leased vehicles and a 40 million expense to cut staff. "Based on its latest ...

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