UPDATE 1-Volkswagen '07 operating profit beats expectations


(Adds details, background, shares) FRANKFURT, Feb 29 (Reuters) - Volkswagen beat expectations with a 40 percent gain in 2007 underlying earnings, raised its dividend and forecast a further improvement in its results this year. VW said on Thursday its operating profit increased to 6.15 billion euros ($9.34 billion), compared with an average estimate of 5.87 billion from a Reuters poll of 20 analysts and 4.38 billion before one-off items the previous year. VW's operating margin expanded ...

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