VW says Q3 operating profit down 57 pct

Newswire

FRANKFURT, Oct 29 (Reuters) - Europe's biggest carmaker, Volkswagen AG , said on Wednesday the cost of revamping its Brazilian operations and the strength of the euro hammered its operating profit down 57 percent in the third quarter. VW's operating earnings fell to 510 million euros ($597 million) from 1.182 billion in the period a year ago. It said it had taken provisions of 120 million euros for the Brazil restructuring. VW had been expected to post an operating profit of 560 million ...

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