UPDATE 4-VW closing gap on Toyota with emerging market sales


* Q1 oper profit 2.9 bln euros vs Rtrs poll avg 2.19 bln * Automotive net cash 19.6 bln euros at end-March * Sees gain in 2011 sales, operating profits * VW shares up 4.7 pct, Porsche 6 pct higher (Adds fund manager comment, CFO comments) By Maria Sheahan FRANKFURT, April 27 (Reuters) - Volkswagen , Europe's largest carmaker, tore through quarterly earnings forecasts with emerging markets fuelling a sharp rise in sales and taking it closer to its goal of overtaking Toyota . ...

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