VW says pretax profits hit by currency effect

Newswire

FRANKFURT, Oct 29 (Reuters) - Europe's biggest carmaker, Volkswagen AG , said on Wednesday exchange rate fluctuations had a 1.2-billion-euro negative impact on its nine-month pretax profit of 1.378 billion euros. The figure, released on slides on the company website ahead of a conference call, implies a third-quarter hit of 400 million euros. VW said earlier its operating profit fell 53 percent in the first nine months due to weak demand, a strong euro and the cost of revamping its ...

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