UPDATE 1-VW Financial Services heads for record '03 profit


By Jan Schwartz BRAUNSCHWEIG, Germany, Dec 18 (Reuters) - The financial services arm of Europe's biggest carmaker Volkswagen said on Thursday it was on track for record pre-tax earnings this year. The unit, which earned more than VW's car building business in the last quarter, said in September it expected earnings growth of about 10 percent for the full year. It posted a pre-tax profit of 501 million euros ($618 million) in 2002. Norbert Massfeller, head of the unit, told Reuters that ...

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