UPDATE 1-Volkswagen Q2 core profits halve

Newswire

(Adds background, detail from quarterly report) FRANKFURT, July 25 (Reuters) - Europe's biggest carmaker, Volkswagen AG , said on Friday its core profits had fallen by more than half in the second quarter as a strong euro, new product costs and slumping demand took their toll. VW said its operating profit fell to 616 million euros ($708 million) in the three months to the end of June from 1.4 billion a year ago. Its pre-tax profit fell to 679 million -- a narrower decline than analysts ...

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