UPDATE 1-VW unit Audi says sees stable 2004 earnings

Newswire

(Adds detail, background, shares) INGOLSTADT, Germany, Feb 24 (Reuters) - Germany's Audi said on Wednesday pre-tax profit fell over 11 percent to 1.11 billion euros ($1.4 billion) in 2003, meaning Volkswagen's luxury unit alone generated over 70 percent of VW's profits. Audi, which the year before had accounted for just under one third of the pre-tax earnings at at Europe's biggest carmaker, said in a statement that net profit rose five percent to 816 million euros last year. Audi said ...

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