UPDATE 4-VW sees 2003 profit halving, real pickup in 2005

Newswire

(Updates with CFO comment on 2004, capex, 2003 costs, Brazil) By Nick Tattersall FRANKFURT, Oct 29 (Reuters) - Germany's Volkswagen said on Wednesday its profits would more than halve this year after weak demand for its cars, a strong euro and the cost of cutting jobs in Brazil hammered its third-quarter earnings. Europe's biggest auto maker earned more in the three month period from its financial services arm than it did from selling cars and, although it expects demand to pick up ...

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