Volkswagen 2003 profits fall less than expected

Newswire

FRANKFURT, Feb 18 (Reuters) - Germany's Volkswagen posted a smaller than expected decline in 2003 profit on Wednesday but cut its dividend payment by 19 percent as weak demand for its cars and a strong euro took their toll. Operating profit before special items at Europe's biggest car maker fell to 2.491 billion euros ($3.18 billion) last year from almost 4.8 billion in 2002 but beat the consensus estimate of a Reuters poll that showed analysts expected 2.189 billion euros. Despite ...

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