Volkswagen cuts 2004 profit target after weak 1H

Newswire

FRANKFURT, July 23 (Reuters) - Europe's largest car maker Volkswagen lowered its 2004 profit target by 600 million euros ($735.7 million) after first half profits fell by almost 20 percent, the company said on Friday. The carmaker now expects it will post an operating profit of 1.9 billion euros for the full year before special items, compared with its original guidance of more than 2.5 billion. Before special items, operating profit for the first half fell 19.8 percent to 979 million ...

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