UPDATE 2-VW sees 2003 profit halving after weak quarter

Newswire

(Adds fund manager comment, detail on third quarter) By Nick Tattersall FRANKFURT, Oct 29 (Reuters) - Volkswagen said on Wednesday profits were likely to be halved this year after weak demand, a strong euro and the price of revamping its Brazilian business hammered third-quarter earnings. In addition Europe's biggest carmaker warned that full-year results would also be hit by higher than anticipated costs in developing a range of new vehicles. Operating profit fell 57 percent to 510 ...

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