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By Alexander Huebner
STUTTGART, Germany, June 25 (Reuters) - The chief executive of German sports car maker Porsche AG said on Tuesday net profit in the 2002/03 fiscal year would at least match the year-earlier level.
"Next year will also be outstanding," Wendelin Wiedeking told Reuters in an interview.
Wiedeking reiterated that net profit in the current year would be at least be flat despite costs associated with the launch of the new Cayenne sports utility vehicle.
In 2000/01, the company posted net profit of 270.5 million euros ($262.9 million), its seventh consecutive record year.
Porsche shares were up 4.98 percent at 474 euros by 1552 GMT, in line with an auto rally across Europe. The Dow Jones European Auto index climbed 4.39 percent.
The selling price of the new vehicle is to be announced in the next few weeks, after which orders will be accepted.
The factory in Leipzig is ready for production of 25,000 vehicles annually but could be increased if necessary, he said.
Wiedeking said it was not clear whether the group would make record unit sales as a result of factory strikes earlier this year. Last year the Porsche sold 54,586 vehicles worldwide.
Lost production totaled only 150 cars as a result of the strike. The company is trying to make up for those now through special shifts on four Saturdays.
Wiedeking said the company would not decide before May of next year whether it would build a fourth series, which could lead to a new model on the market by 2007.
Only after the Cayenne was at dealerships would the company consider a new series, he said.
"Growth has to stay digestible," he said.
It usually takes four years to get a new model off the ground.
Wiedeking said before the creation of a fourth series there was room to grow with current platforms.
Other variations of the upcoming Cayenne were also possible, he said.