Volkswagen reports plunge in Q1 profits, keeps goal

Newswire

FRANKFURT, April 30 (Reuters) - Volkswagen AG reported a steep plunge in first quarter earnings on the year but stuck to its goal of an improvement in operating profit in 2004, Europe's largest carmaker said on Friday. Operating profit for the group sank to just 329 million euros ($389.1 million), compared with 604 million euros in the previous year. VW posted an even sharper decline in net income to 26 million euros versus 202 million euros in 2003, despite a six percent rise in ...

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