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Volkswagen's Skoda Unit Posts Record Profits in 2014

MLADA BOLESLAV, Czech Republic, March 16 (Reuters) - V olkswagen's Czech carmaker Skoda Auto raised net profit by 46 percent to 665 million euros in 2014 after selling more than 1 million cars for the first time in its history, the company said on Monday.

Skoda, the biggest Czech manufacturing firm and a key exporter, said it expected to boost sales further in 2015, and planned to increase annual sales to at least 1.5 million within the next few years.

The company, which has its main manufacturing base in the Czech Republic, sold 1.037 million vehicles in 2014, a 12.7 percent rise.

"The successful start to the year makes us confident that we will grow even further in 2015," Chief Executive Winfried Vahland said in prepared remarks. "However, the overall conditions of the markets remain challenging." (Reporting by Jason Hovet, editing by Jason Hovet)